Video Link: https://youtu.be/Ny9wf4-h5sg
In this episode, Warren Buffett tells why he will never turn shareholders money over to someone else to manage?
In this episode, you’ll learn:
The integrity of a successful investment manager.
Why Warren Buffett never turn shareholders money over to someone else?
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~ Please visit the site above for full video of Berkshire Hathaway Annual Meeting.
WARREN BUFFETT 00:08
Yeah. We will never turn our money over to somebody else. You know, if we’re going to lose your money as Berkshire shareholders, we’re going to lose it ourselves and we’re going to come back and look you in the eye and tell you how we lost it.
We are not going to say this game is too tough, so we’ll give our money to somebody else. You can give your money to somebody else, and you don’t need the intermediaries of me and Charlie to do it for you.
So, we get approached all the time. I had a call, you know, within the last couple of days, on something you would know very well about participating in some fund or — they always have — it’s always stage one, stage two, stage three.
And the idea is we get some more people to come in later at twice the price, and maybe the fact that our name is involved, and it will cause people to pay even more, and all of that sort of thing. We’re not in that game.
And we’re not going to turn the money over to someone else to manage. It’s your money. You gave it to us to manage. We’ll manage it. If you decide you don’t want us to manage it, you decide who you give it to. We’re not going to be intermediaries on it.
And if we don’t understand something ourselves, we’re not looking for anybody else to do it for us. It — the world doesn’t work very well that way, anyway.
I mean, it — usually you end up in the hands of the promoters and not the hands of the people who really know how to make money.
Charlie? You want to? He said it. OK. Zone 7.