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How to Stay Out of Debt: Warren Buffett - Financial Future of American Youth (1999)

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Buffett became a billionaire on paper when Berkshire Hathaway began selling class A shares on May 29, 1990, when the market closed at $7,175 a share. More on Warren Buffett: https://www.amazon.com/gp/search?ie=UTF8&tag=tra0c7-20&linkCode=ur2&linkId=9113f36df9f914d370807ba1208bf50b&camp=1789&creative=9325&index=books&keywords=Warren%20Buffett In 1998, in an unusual move, he acquired General Re (Gen Re) for stock. In 2002, Buffett became involved with Maurice R. Greenberg at AIG, with General Re providing reinsurance. On March 15, 2005, AIG's board forced Greenberg to resign from his post as Chairman and CEO under the shadow of criticism from Eliot Spitzer, former attorney general of the state of New York. On February 9, 2006, AIG and the New York State Attorney General's office agreed to a settlement in which AIG would pay a fine of $1.6 billion. In 2010, the federal government settled with Berkshire Hathaway for $92 million in return for the firm avoiding prosecution in an AIG fraud scheme, and undergoing 'corporate governance concessions'. In 2002, Buffett entered in $11 billion worth of forward contracts to deliver U.S. dollars against other currencies. By April 2006, his total gain on these contracts was over $2 billion. In 2006, Buffett announced in June that he gradually would give away 85% of his Berkshire holdings to five foundations in annual gifts of stock, starting in July 2006. The largest contribution would go to the Bill and Melinda Gates Foundation. In 2007, in a letter to shareholders, Buffett announced that he was looking for a younger successor, or perhaps successors, to run his investment business. Buffett had previously selected Lou Simpson, who runs investments at Geico, to fill that role. However, Simpson is only six years younger than Buffett. Buffett ran into criticism during the subprime crisis of 2007--2008, part of the late 2000s recession, that he had allocated capital too early resulting in suboptimal deals. "Buy American. I am." he wrote for an opinion piece published in the New York Times in 2008. Buffett has called the 2007--present downturn in the financial sector "poetic justice". Buffett's Berkshire Hathaway suffered a 77% drop in earnings during Q3 2008 and several of his recent deals appear to be running into large mark-to-market losses. Berkshire Hathaway acquired 10% perpetual preferred stock of Goldman Sachs. Some of Buffett's Index put options (European exercise at expiry only) that he wrote (sold) are currently running around $6.73 billion mark-to-market losses. The scale of the potential loss prompted the SEC to demand that Berkshire produce, "a more robust disclosure" of factors used to value the contracts. Buffett also helped Dow Chemical pay for its $18.8 billion takeover of Rohm & Haas. He thus became the single largest shareholder in the enlarged group with his Berkshire Hathaway, which provided $3 billion, underlining his instrumental role during the current crisis in debt and equity markets. In 2008, Buffett became the richest man in the world, with a total net worth estimated at $62 billion by Forbes and at $58 billion by Yahoo, dethroning Bill Gates, who had been number one on the Forbes list for 13 consecutive years. In 2009, Gates regained the position of number one on the Forbes list, with Buffett second. Their values have dropped to $40 billion and $37 billion, respectively, Buffett having lost $25 billion in 12 months during 2008/2009, according to Forbes. In October 2008, the media reported that Warren Buffett had agreed to buy General Electric (GE) preferred stock. The operation included extra special incentives: he received an option to buy 3 billion GE at $22.25 in the next five years, and also received a 10% dividend (callable within three years). In February 2009, Buffett sold some of the Procter & Gamble Co, and Johnson & Johnson shares from his portfolio. In addition to suggestions of mistiming, questions have been raised as to the wisdom in keeping some of Berkshire's major holdings, including The Coca-Cola Company (NYSE:KO) which in 1998 peaked at $86. Buffett discussed the difficulties of knowing when to sell in the company's 2004 annual report: That may seem easy to do when one looks through an always-clean, rear-view mirror. Unfortunately, however, it's the windshield through which investors must peer, and that glass is invariably fogged. http://en.wikipedia.org/wiki/Warren_Buffett
Категория: Образование
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Текстовые комментарии (1632)
kadmonzohar2 (3 дня назад)
On this day what does this talk mean?
kadmonzohar2 (3 дня назад)
I pay a dollar for a Snikers these days.
Bullish Bears Team (3 дня назад)
Avoiding debt is so important. Living within your means is the best way to do it!
Robby Khullar (1 день назад)
Not really. Most people have to take on debt to buy their home.
y a (6 дней назад)
29:20, accounting seems to be one of the greatest areas of education we can study...
1G8KhBzu5Tk34wpJEiwc8hX2rdu4arVWWR (8 дней назад)
buffett insurance ponzi
Smwasam Smwasam (11 дней назад)
Subtitles are so off putting, mispelt in quite a considerable number of instances. Content good, but let down by subtitles.
Anthony Sanders (15 дней назад)
the unmatched powers of the press and the media (the internet, TV, news papers and the like), it is the reason for which there are more billionaires today than ever before. Antonio, the extreme 18 wheeler
Anthony Sanders (15 дней назад)
if simplicity(stick to what one understands well and best), humility, honesty, integrity, intelligence, energy(, hard work, constant effort, endurance, perseverance ), education(prepareness and readiness ), deciplined patience, being debt free, not procrastinating, saving and investing well is the key to success, what about,? having the right thinking, being assertive on the right goals and objectives, being at the right place(the USA), at the right time, at the right business activity with the right people. Antonio, the extreme 18 wheeler
Abid Ahmed (15 дней назад)
Do billionaires count by millions? lol
Daniel Ly (22 дня назад)
This is good general advice but if you want to make it big like buffet, you will have to do something different because times have changed and you will have to take your own risks, emerging markets, technology, AI, these are growth areas that buffet avoids because he has his billions so now he just focuses on keeping his money safe.
SokemRokemRobot (22 дня назад)
Start off by not using credit cards. If you're rich like Buffett, using credit cards won't hurt you. But, if you're not rich, don't use them... pay cash. If you must buy something on credit because of a need, get it paid off before the interest kicks in.
Tom Cerova (23 дня назад)
Hes very thoughtful, sharp, smart and intelligent and as a matter of fact ive never ever seen such a decent and honest person like him hes very truthful about everything he says by the way he think very clear hes true about anything and everything
Chris Taylor (23 дня назад)
What a wealth of wisdom this man is. He can have it all yet is still so humble and willing to share his knowledge. One of the richest people ever to live and he never shows a hint of condescension like so many other people you run into do.
William Stanley (25 дней назад)
Great concept from a man who understands investments.
سلمان العجمي (29 дней назад)
الحسن رجع مختار الثقفي
glenn baker (1 месяц назад)
Great video on getting a solid financial foundation
frother (1 месяц назад)
I love the kids in 1999 concerned about student debt. And Buffet saying "no need to spend 35 thousand on a top school like Wharton" LOL. A Wharton MBA is $110k/yr now.
VeryCleaverName (1 месяц назад)
$50k? I was thinking $5 million
Danny 'Dharma Zen' Tseng (1 месяц назад)
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Omar Mahfouz (1 месяц назад)
integrity and warren buffet in the same sentence loll
Gail Sylvester (1 месяц назад)
I really like this man it is amazing how he still remains so humble in all his success.God bless him.
MrTheoatman (1 месяц назад)
This was almost 20 years ago. Sure looks like he'd disagree with Trump.
Martine Sejour (1 месяц назад)
I was told a “governmental contract “ was in place; with or without my consent, so where is my money? 💰
Mike Hunt (1 месяц назад)
Loool I had a terrible grade school education.
Mike Julius (1 месяц назад)
This is the apitimey of common sense isn't very common. Wealth of knowledge thisam has
TryingTo Correct (1 месяц назад)
"If you dont have money dont buy it", great rule of thumb
Financial Freedom (1 месяц назад)
Rose Blumkin was the founder of Nebraska Furniture Mart who sold the business to Warren Buffett of Berkshire Hathaway. Blumkin grew that business to become the largest indoor furniture store in America and eventually sold 90% of the business to Buffett in 1983 for $60 million. Rose Blumkin turned her initial $500 into $60 million. https://www.youtube.com/watch?v=yWYZUCUj0BM
JEFF PAIN (1 месяц назад)
Expert Critic (2 месяца назад)
Warren buffett always says he is lucky. He never says he was blessed. He always says he was lucky.
Isaac Spencer (2 месяца назад)
step 1. Don't apply for loans. step 2. remember step 1
S T A G E S Booking and Promotions (2 месяца назад)
Sorry #warren Im going to have to “beg to differ” with you on a point or two around 6:50 you said “if you’re 50 or so, its not possible” to [change} bad habits basically you’ve said ‘dont bother trying, irs too late’ How depressing is that?! It sad you feel that way and btw Highly (age descrimination BOO!) Everything else is spot on but i had to stop the vid to express my thoughts and feelings here Its never too late if you want something badly enough. Dont ever let anyone say youre too old dont bother, even if Warren Buffett told you so!
Mejellinn The gentleman (2 месяца назад)
Women weren’t able to be on a jury?what about the people who weren’t allowed to be a human being?
Brain frames (2 месяца назад)
Joseph Ducreaux (2 месяца назад)
How you stay out of debt? - You become a filthy rich cocksucker.
MaDD ValianT (2 месяца назад)
Has anyone watched this with the subtitles? What a Bloody nightmare!!! I feel sorry for the Hearing impaired!
D. A. (2 месяца назад)
The people's billionaire.
Yesenia Gonzalez (2 месяца назад)
"Avoid credit cards"
Max Bien (2 месяца назад)
Max Bien (2 месяца назад)
Max Bien (2 месяца назад)
warren buffet is truly a straight shooter, just live simple, money is a tool, as well, as we are, and our loved ones, kids, parents, brother and sister family friends even people you do not even know, as long as you can help, or change someones life, in some where, in your walk of life, the beast fun i;ve had with is the simple people that I HAVE FOUND INTER ACTING WITH MANY FROM THE MANY WALKS OF LIFE , I LOVE MY LIFE AND ALL PEOPLE THAT I SHARE WITH EVERY DAY, RICH COMES IN MANY WAYS
John Doe (2 месяца назад)
You day dreamers believe economics and finance are a force of nature . They are not . They are systems created by humans . And all these games that you think is good advice doesn't make your standard of living much better . Everything and everyone has limits on this earth . And the market and banks etc we put no limits on in a finite world . It is utterly fatuous and insane to put no limits on the market. And the money printing is going to make the upcoming crash and depression a hell on earth . Yet you morons think market crashes and depressions is a force of nature we can't stop . If you continue with this fatuous belief and just let the market go , in the 2020s we will have a market crash and depression which will make 1929 and the 1930s depression seem just a bad rainy day . Right now all vitals goods and services and banks must be nationalized to cushion and for us to survive . If you just keep letting the market rip , their is not going to be another bailout for banks and corporations, the people won't get fooled again, civil unrest like you've never imagined and world war 3 .
John Doe (2 месяца назад)
Is easy for you to say you filthy rich billionaire mr. buffett . When the next crash and depression hits in the 2020s we will do just what the people forced FDR to do . Tax you mother fuckers 96% on assets and income after your first 100k dollars .
David A (2 месяца назад)
Very wise advice. However he fears saying that welfare has been a failure and social security also a bad idea with horrible returns and corrupt administration... in my estimation this is because so many of his businesses especially the banks are in bed with the federal bureaucrat corrupt government
Pete Russ (2 месяца назад)
What percentage of the rich have INTEGRITY these days? When integrity means - the quality of being honest and having strong moral principles.....
NothingToNoOneInParticular (2 месяца назад)
How to stay out of debt, by Buffett. He took a shit load in QE from the Gov't. Pot meet Kettle.
Richard Peninger (2 месяца назад)
I admire Mr. Buffet's attitude toward the national moral climate. He makes a good point that in significant ways the moral climate has improved - even if some other ways it's gotten worse.  He makes a persuasive case for "taking care of" people who just draw a bad lot in life, even if they are in the US. As long as they're not damaged from their own willful recklessness I suppose I agree. I'll bet the High-schools in Omaha are great.
Neo Craft (2 месяца назад)
“If you can’t pay for it, don’t buy it...” (said to a crowd that’s possibly borrowing $50,000 each in today’s dollars to fund their education) lol
Bruno Ferraro (2 месяца назад)
thx cool video
SANDEEP SANGHA (2 месяца назад)
Reefer carrier LLC is looking for million dollars could pay 10 % interest . Contact us at 702-373-1591 .
Helen Foreman (3 месяца назад)
Considering his success, he comes across as a Humble and greatful man
Carlos Diaz (3 месяца назад)
God I wish I could've listen to this man speak in Highschool
Wisepersonsay (3 месяца назад)
Re:College Debt in the USA.I never understand those highly educated students never try to change this life strangling system. Understanding America is the epitome nation of Capitalism, the students must work in unison to change this system. Many of developed nations have free tertiary education with public colleges. Name value of prestigious colleges may give you a financial edge, but it's always the individual conscience to improve himself relentlessly to catch up with the change of time. Firing, redundancy, and corporate bankruptcy are daily events these days. Job security is an obsolete notion. An individual must be a totally financially responsible entity.
Wisepersonsay (3 месяца назад)
''Integrity'' is a scarce commodity in the world. Greed has replaced it. Work smart and live pragmatically, without being entangled with ''consumerism'' and ''materialism''. The foolish people try to make money hastingly without steady planning and spend it wastefully to prove to the world that they are pseudo-successful. The wise and the foolish die totally differently.
TJ Gill (3 месяца назад)
lot of people who are negative are missing the big picture. He says this is not a perfect system but is the best system there is. If you cant see wisdom in that then you are the cause that these problems exist in the first place. Lot of people think they sound very informed and cool to criticize success and avoid doing anything to prove otherwise but just spew vitriol. Grow up please or at the very least stop whining...
TJ Gill (3 месяца назад)
lot of people who are negative are missing the big picture. He says this is not a perfect system but is the best system there is. If you cant see wisdom in that then you are the cause that these problems exist in the first place. Lot of people think they sound very informed and cool to criticize success and avoid doing anything to prove otherwise but just spew vitriol. Grow up please or at the very least stop whining...
Martin Sepp (3 месяца назад)
Very cool video
mitchetdougretired11 (3 месяца назад)
Easy to talk about staying out of debt when you're rich!
Geloof Hoop en Liefde (3 месяца назад)
Buffett started as a paper delivery boy,he became rich by understanding how stupid other people handle money. Have a close look at your debts and figure out how they arrived. Did you buy something you could not afford? I am living without debts because i do not buy anything unless i have the money which i saved from month to month,bit by bit. I do not own a house,renting an appartment instead. Also,i do not use creditcards at all,everything is paid "cash" from my bankaccount by means of electronic transfer,very common in The Netherlands,does not cost anything. One should not be paying upto 20 percent interest on creditcards. If you can't afford a new car,buy an old car for a fraction of the price. Not fancy? Who cares apart from you? The Dutch are used to drinking coffee at home,not at Starbucks,be it you could buy Starbucks shares and get rich! We buy our coffee in the supermarket. Many costs you can avoid by shift down to a less fancy life. Drinking tapwater is cheaper than drinking Coke,but Buffett holds a lot of Coke shares because he understands how the masses think. My father died in July 2017,age 83,he left me some money (not millions) so that my wife and i could buy a new car,a Ford B-Max 2017 1.0 ltr 100 HP,it needs to last for at least 15 years,average age of cars going to the scrapyard overhere is 18 years. I have much more to say if you want to know,staying out of debt is easy. Buffett himself drives a 10 year old car,he could be a Dutchman! Greetings from The Netherlands,AKA Holland.
Brandon Boggs (3 месяца назад)
Let's see, unless we remove the slave based system we are all under from the day we are born until we die we will live in debt no matter what. The Federal Reserve being used to print out money is the biggest scam of ALL TIME! The Globalist Jew elites that own all of us are trying to rule the world by taking and owning EVERYTHING and implement their coveted Liberal World Order and destroying the west in the process and Obama was their puppet as is Clinton. A bunch of illuminati scumbag pedofiles run the entire world bc they print out money.
Geloof Hoop en Liefde (3 месяца назад)
" If you can't pay for it don't buy it". I like the man for what he is,a self made man from nowhere town in the USA. A modest man too. But sorry to say he is not a great speaker,too many sidesteps from the mainstory. I fully support his comments about creditcards,get rid of them! For the rest,just follow his investmentpolicies,look in which companies he has shares and just copy that. No need to invent the wheel for a second time. If it works for Buffett it wil work for us. Greatings from The Netherlands,AKA Holland.
Du Vaughn (3 месяца назад)
34:00 = Trump.
John Doe (3 месяца назад)
Wow. What people still will demonize Dave Ramsey for (avoiding credit cards) and here I find Warren Buffet saying the same exact thing! I'm never getting a credit card!
Anabel Pecatoste (3 месяца назад)
wanna make money online. https://bit.ly/2o9WGVC
Martin Becker (3 месяца назад)
Buffett amazing man!
Steve shaw (3 месяца назад)
What s & p 500 index fund does buffet own? I cant find the one that pays dividends can someone help me out
John Doe (3 месяца назад)
Vanguard's VOO
Sim Wee Phong (3 месяца назад)
Still applies now !
Pat W (3 месяца назад)
id love to be mentored by warren
Laas Teder (3 месяца назад)
He really genius
Dan Reidy (4 месяца назад)
tim van Leeuwen (4 месяца назад)
aandelenvinder.nl voor al je aandelen
Alejandro Perales (4 месяца назад)
Last chances haha
Alejandro Perales (4 месяца назад)
Finance me i will get God around the Sun its mind ha ha i am who i am i B-+ Master 3 Gods beat all...
Ndubisi Onuora (4 месяца назад)
Great wisdom in the following range: 14:00-16:00.
Shane Dial (4 месяца назад)
He had me at, 'Testing... one-million, two-million...' Ha!
John Justin (4 месяца назад)
What a bastard. He says you are worth 500k. That's 20k a year for 25 years. So if the students are 45, he is betting they are either out of work or whatever by age 45 to 50. He is also wanting a 10% return for a 1/10 stake. That sucks! Who the hell is making 10%?
John Doe (3 месяца назад)
I make 10%. A lot of people make 10%. Don't you?
ElmwoodParkHulk (4 месяца назад)
Warrens great ,love him
nonquintessentialone (4 месяца назад)
Beautiful video suggestion.. I love you Warren Buffet. GBR!!! #MAAGA https://youtu.be/xkmL5eXFqG4
Mark Lindley (4 месяца назад)
The elite will control crypto or they will kill it. The elites sale first stocks bonds when a collapse is coming. Its a group of insiders a Kabal. They top 2 percent that control 80 percent of the worlds wealth are consolidating more wealth. These people are the same people that want you the commoner aka slave disarmed. The Jewish pyramid system is designed for the the Jewish bankers.
Paul Warren (4 месяца назад)
legalcase1 real (4 месяца назад)
haha, just allow a corrupt lawfirm to steal your identity! just as the UK LAW FIRM have been doing over decades abusing my identity, yet the police, etc...have been informed, and they do nothing!Q)The FBI/CIA/MI5/MI6 make such a big deal about thefts committed by hackers globally, yet they turn a blind eye to corrupt lawfirms/judges who over decades steal victim's identities, manipulate whole lives by even abusing the UK LAND REGISTRY, who's corrupt staff aid/abet the continued abuse, as I am a victim of all this which has been reported to the MINISTRY OF JUSTICE, as this criminal network have continuously hacked all my emails, my phone, illegally monitored my financial transactions, they send people to stalk me, bribe judges to make a mockery of the UK RULE OF LAW(I feel sorry for julian Assange as he's being played by so many lawfirms to milk his 'talent' dry by stalking)also used mobile technology to imitate the numbers of the UK LAND REGISTRY/banks these conmen said they were calling from! +even sent an imposter to pose as the head of the UK Land legal team to a recent court case I had vs them! Q) You all must ask yourselves a crucial question as to how so many corrupt persons are not in a mental hospital, for life, when they continue to abuse the whole network of the infrastructure of what we all believe we as humans, must be living according too!?
Suzann Fulbright (4 месяца назад)
Student loan debt is a tax on what is inside your brain. 44 million people in this country have a tax on the brain. Thanks to deregulation, anti-taxation and privatization it has become impossible for most people to get an education without debt. This debt has NO bankruptcy protections NO consumer protections - it is predatory debt. He says education unblocks your mind but it is not necessary - self educate? Why not address the REAL issue which is a failing capitalist system that is trapping people who need education into predatory debt! And choice of school does’t matter? BUNK!
Geloof Hoop en Liefde (3 месяца назад)
Student loans can be paid back once you have become a lawyer or something like that,right?
castroy64 (4 месяца назад)
Buffett lost all credibility after he sucked up to Obama.
Sam Sam (4 месяца назад)
This Guy is a Legend.. Down to earth answers the questions know his History has genuine TheoriesTactics honest eg he don't like Technology he stayed true to his beliefs.. he lost a lot of money BUT he made it back.. amazing man..
joseph buck (5 месяцев назад)
Yes mr. Buffett we appreciate the fact the CIA give you good money or was that George Bush Senior himself this is America's drug kingpin he's the one who makes the books balance for them oops mr. sweet and innocent got a very very dark past
joseph buck (5 месяцев назад)
Warren Buffett that most of his money you can think George Bush for making him head of the drug cartels and I do mean George Bush Senior
wyntre sorrow (5 месяцев назад)
smart man
wyntre sorrow (5 месяцев назад)
never had credit card never will. i never wanted one. ive never had debt. i disagree with mr buffets statement about education. alot of people dropped out and make alot of money
Chris Gilliam Man Stuff Channel (4 месяца назад)
wyntre sorrow Oh crap. I didn't finish. Was gonna come back to it. 😂😂😂 Thanks.
wyntre sorrow (4 месяца назад)
Chris Gilliam Trapping he did if u paid attention
Chris Gilliam Man Stuff Channel (4 месяца назад)
Did he equate education with schooling?
Mark Whittaker (5 месяцев назад)
Charles A Townsend (5 месяцев назад)
Warren would have been better of giving free shares to everyone in America rather than funding Bill Gates. Those shares could have sparked Americans to become more involved in tbe stock market to build their retirement. Remember, Bill Gates stoled most of what gave him his start.
Richard Kocksworthy (5 месяцев назад)
How to stay out of debt? EASY Just throw up freemason hand symbols constantly in the thumbnail
Varshit Areti (5 месяцев назад)
You are my hero!!!
Vonn Harris (5 месяцев назад)
Living below your means and avoiding Getting behind on Credit cards or just stay away from Credit cards. Wish I could have a conversation with him
richard calhoun (5 месяцев назад)
Buffett is a crooked bastard and a pile of shit; this prick is one reason our country is in trouble...the laundromat queen of money laundering for the federal government.
The Wealth Generator (5 месяцев назад)
Every time he talks I just pull up a chair, because class is now in session
Andrew Sheets (5 месяцев назад)
Stefan Belkowski (5 месяцев назад)
Curious if he would have given the same speech post 2008??
jellyfishattack (5 месяцев назад)
The ad preceding this was encouraging us to buy cryptos; how incredibly ironic, and cyrptos would be the absolute antithesis of Warren Buffet.
T Hambone (6 месяцев назад)
"Teachers don't get paid well"... yeah no shit. Maybe if we got off the Communist system of public education and let the market decide, they could. All of these property taxes and what we get is a bunch of financially illiterate, indebted leftists (for the most part). Wake up.
George (6 месяцев назад)
I know. You can give me 5 million dollars and i don't give you anything.
Juan Hernandez Jr. (6 месяцев назад)
"Don't hate the player or the game. Learn to play" Like it or not America is the greatest country to live in if your ultimate goal is to be wealthy.
Jack Rock (7 месяцев назад)
If you buy low and sell high you turn a profit, Donald Trump
iqubal manhas (7 месяцев назад)
He is smart uses his cash floe from insurance premiums to invest.

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