ShmoopTube

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finance a la shmoop who is Warren Buffett

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no that's Warren Buffet that guy always over does it on the crab legs there in [Guy eating a crab leg and throws the scraps back onto the buffet]

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Vegas this is Warren Buffett world's most successful investor he bet big on [Buffett talking to Obama]

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the insurance industry arguably the greatest legal industry on the planet [Chips being put on the insurance industry]

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how does that work while keeping it simple you've bought term life insurance

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you pay 50 bucks a month at age 25 to get half a million dollars in policy for

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your family if you die they make Bank that is their policy pays them a half a [Guy collapses and a grave stone appears]

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million bucks if you die but you don't usually die it's not each month you keep

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going along so this month passes your 50 bucks goes to Warren and co it's called [Grim reaper at the door then he says he is at the wrong house]

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Geico and they count it that's it they just stick it in their pocket very high [Someone counting money and then putting it into a jeans pocket]

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margin yes they have to leave some money for the million dollar death

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that'll happen way down the line or in some random a case where a guy got hit [Guy waiting at a bus stop]

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by a bus or something like that so it does happen but generally the insurance [Guy is hit by the bus that arrives]

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industry is a very high margin lucrative industry Buffett saw that and bet big on

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it he also bet big on the stock market and [Even more chips being placed on the insurance industry and some being put on the stock market]

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called the great market swings of our era almost perfectly his style almost

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never trade he buys and holds forever ish he has run a massively concentrated

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portfolio for a very long time with tens of billions of dollars just in a few [Examples of Buffetts holdings appear]

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stocks such that a normal mutual fund of his size might have a thousand names

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where he has just a dozen big bets big Brunswick's down there his personal life [Someone bowling]

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not so happy rough marriage ignored kids for whom he

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has openly apologized for being a lousy father his work was really his family [A worlds best dad mug with worst written on it]

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which is kind of sad for the guy who could buy pretty much everything but

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didn't here's where he lives in Omaha named after a Peyton Manning NFL signal

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call he famously Shops at Walmart spends little money on himself and will end up [Buffett shopping with only a few basics in his basket]

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giving away virtually all of his fortune to the Gates Foundation yes that gates [Buffett opening a vault full of money for Bill Gates]

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Uncle Bill ever wonder who picks up the dinner tab but when they go out to eat [People arguing over the bill]

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anyway Buffett and gates will have merged their fortunes into the cent a

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billion zone yes a hundred billion dollars of charitable money [Big piles of money being merged together]

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billion and change they're gonna fight to cure cancer malaria aids tuberculosis

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bad short games and whatever other awful diseases may arise in the future but

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terminal nerdism lands here to stay [Bill Gates in hospital for nerdism]

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