Charlie Munger: 'Enormously talented people deliberately go into fraud'

Warren Buffett and Charlie Munger respond to a question on fraud at the 2002 Berkshire Hathaway annual meeting.
Top ten investment books;
The Intelligent Investor by Ben Graham: amzn.to/2XP3Hvo
The Big Short by Michael Lewis: amzn.to/3ak7Wr0
The Dhandho Investor by Mohnish Pabrai: amzn.to/2PqQDgk
One Up On Wall Street by Peter Lynch: amzn.to/39JM2Kk
Ben Graham's Security Analysis: Sixth Edition, Foreword by Warren Buffett: amzn.to/2XNYtAh
The Little Book of Common Sense Investing by Jack Bogle: amzn.to/2UsGk8T
Common Sense on Mutual Funds by Jack Bogle: amzn.to/2Uxu2wl
Common Stocks and Uncommon Profits by Phil Fisher: amzn.to/2XOCU2v
Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger by Peter Kaufman: amzn.to/2oBddW4
The Essays of Warren Buffett: Lessons for Corporate America: amzn.to/3EwbNxx
(The above are affiliate links.)

[@WildTrek]

“If it sounds too good to be true, it probably is”. A good tip that works anywhere from the streets to high finance.

[@harvey199813]

The fact Charlie answered first…. *time for diligent note taking*

[@iValueInvesting]

3:46
EBITDA - Earnings Before I Tricked the Dumb Auditors.

[@jagatdave]

Oh.god...u r cruel...have mercy on those auditors...let them gather fake evidences and reconcile trial balances... jungle needs all...elephant...ant..crocodile and an eagle..

[@maximomgwadira1687]

Haha love it

[@mnjshwr]

Charlie will be sorely missed

[@apga1998]

Robert Maxwell, the "the bouncer" was the father of Ghislaine Maxwell.

[@pottersmiles7238]

The Bouncing Czech

[@OffGridInvestor]

General Electric WAS LOADED with accounting tricks and almost ENRON STYLE stuff. I think they were doing "mark to market" as well. Jack Welch was a real rotten egg.

[@jackma7972]

Accounting books

[@Hermes_Agoraeus]

"remonstrating"

[@wyllowgrayson8531]

it’s a word

[@BusinessWolf1]

yes. they think they are smart enough to pull it off.

[@sbrooks904]

I feel seen

[@benjiunofficial]

They look the same age as they do in 2021.

[@samsonsoturian6013]

Or maybe frauds work hard to convince you they are enormously talented.

[@BusinessWolf1]

that too

[@cherbo328]

UBER - Dara Khosrowshahi

[@basudebchatterjee5932]

Mydoughar

[@basudebchatterjee5932]

Plus।।।no।vostach।granted

[@rammohan1991]

who are you

[@basudebchatterjee5932]

No।peaple।he।is।amydoughter

[@iwontreplybacklol7481]

The best people in society arent the rich and famous do nothings, but the ones that get real work done. Time the workers rise up against exploitation by the tyrants.

[@derekwhittom1639]

If the workers had any ability to organize and get anything done, they already would have.

[@lucasasselmeier7825]

@@derekwhittom1639 nice way of putting it. 99% of people consumed the majority of goods, and work as employees as they can’t find another way to give value. Those who find success have worked a much harder and risky journey to create an above average life

[@Xezlec]

There are few people in society who get more real work done than these two.

[@samsonsoturian6013]

Found the shoplifter.

[@JamesToler]

🙌🙌🙌

[@DoubtingThomas333]

Given the chance to ask a question....proceeds to ask several questions.... Some people I tell ya

[@zach4216]

relax

[@DoubtingThomas333]

@@zach4216 but they're told they can ask 'a' question, not a question that splits off into several questions, some people just can't help themselves. It's annoying asf

[@zach4216]

@@DoubtingThomas333 you must be a blast at parties

[@DoubtingThomas333]

@@zach4216 is that your real name? Coz I named my son Zach too, haha

[@filmynerd6393]

@@DoubtingThomas333 you are soo funny dude .🤣

[@basudebchatterjee5932]

Halpmi।।।।।poorfomaly

[@playerzero2236]

There are so many honest ways to make money I don't understand why they would do this.

[@BusinessWolf1]

they think they're smart enough to pull it off

[@michaelsonsarmiento5943]

Sometimes men must die.