Even Warren Buffet Was WRONG

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Why is diversifying your wealth globally more crucial than ever? This video explores the increasing risks posed by government overreach, the importance of global banking connections, and strategies for protecting and growing your assets in a changing world.

00:00 Start
00:30 How World Today is Different than Warren Buffett's US
02:42 Geographical Risk
03:23 Inflation & Currency Performance
03:50 Changing Global Dynamics
05:53 Healthy Skepticism
07:04 Importance of Diversification
10:12 The "Best" Place to Go
13:27 How Nomad Capitalist Services can Help You

Nomad Capitalist helps clients "go where you're treated best". We are the world's most sought-after firm for offshore tax planning, dual citizenship, and international diversification and asset protection. We use legal and ethical strategies and work exclusively with seven- and eight-figure entrepreneurs and investors.

We create and execute holistic, multi-jurisdictional Plans that help clients keep more of their wealth, increase their personal freedom, and protect their families and wealth against threats in their home country.

No other firm offers clients access to more potential options to relocate to, bank in, or become a citizen of. Because we do not focus only on one or a handful of countries, we can offer unbiased advice where others can't.

DISCLAIMER: The information in this video should not be considered tax, financial, investment, or any kind of professional advice. Only a professional diagnosis of your specific situation can determine which strategies are appropriate for your needs. Nomad Capitalist can and does not provide advice unless/until engaged by you.

[GSAZYNSKI]

Andrew, you nailed it in one devastating blow as to Warren Buffet's seemingly positive outlook. He is absolutely on the side of politicians who support confiscatory income taxes and confiscatory inheritance taxes (that benefit Berkshire when the family has to make a fire sale at tax time). Buffet supported nixing the Keystone Pipeline since he made millions and millions shipping oil by tanker railcar.
Warren Buffet's statement that he is glad to pay more taxes is utter bullshit. It's just a ploy to make himself look good to the "eat the rich" crowd.
His wealth is gained by influencing and buying off Democrats.

[johnsullivan]

Jim Rickards said: "One thing about Billionaires, watch what they do, not what they say."

[costafilh]

Warren Buffett: "diversification is for idiots"
Berkshire Hathaway: diversified AF

[jonj]

That's one of the few things Munger and Buffet say that is true, diversification is just throwing darts at a dart board. What they don't tell you is all the insider trades and junk bonds they made the bulk of their fortune with.

[davec]

You don't need to diversify if you know the oil pipeline will be shut down as you are thinking of buying rail stock.

[Carolinapetroska]

I was trying to exchange some of my Canadian dollar but the value against the euro and the USD is so low that I chose not to do it. It's ridiculous how the economy is bad in Canada.

[PimpRogers]

Thoughts on the craziness in venezuela?

[calvinmcdowell]

👍Diversification Brands I don’t follow the crowd and own LVT bags

[KamikazeBRockets]

At what range in networth or income does one need to seriously consider your services? Currently these lessons are inspiration to be less foolish or risky with investments, but most of these concepts I cannot implement immediately.

[kskhew]

Based on the toucan in the background, I'm guessing this was shot somewhere in South America? 🙂

I think the context in which Buffett was talking, is about investing within a realm you're familiar with. For instance, if you've studied the banking sector, then you diversify within stocks of various kinds of financial institutions instead of spreading it out between, say, banks, construction firms and food companies. Or in your case, you're investing in global nomading because that's where your expertise lies. You won't be diversifying into agriculture, for eg, any time soon.

But all said and done, we need to bear in mind that Buffett, like a broken clock, will always be correct twice a day.

[infiad]

Imagine going to McDonald's and ordering a Big Mac, fries, and a coke. The cashier says "how much are you worth? Oh you're worth $10, 000, 000? That'll be $3, 000 for the meal." What am I getting that's different and better than what everyone else is getting? We've come to accept this system even though it makes no sense and is not right/good at all.

[Lucas-wnwm]

im Singaporean and i feel that we should still diversify to other country. Maybe find a foreign spouse XD

[jumbothompson]

Diversification is good. Over diversification not so much.

[goldenkotva]

Perhaps you could discuss what steps to take considering the great taking as described by David Rogers Webb

[Kirk_G.]

“I’m not a stock picker”… then, diversify

[ramonrodriguez]

One question. As a US citizen you’re supposed to report foreign accounts. So, even if you’re banking in Singapore, Thailand or Georgia….Uncle Sam can still reach out and touch you, Can’t they?

[thucancook]

what Warren Buffett has been doing is nowhere near diversification. Good companies make money, and he now owning so much of them was just a consequence of receiving so much cash from previously bought corps, at the time when buying certain other companies would be a better use of such cash, rather than reinvesting. Their point here is all about what to do with cash one has on hand, which is spending it all on 1-3 companies he knows will generate the highest yield, instead of buying the market, then repeat the process with dividends paid (if they send him).

[claudym]

Not sure what you mean by “look at what happened to the Pound” - £1 buys me $1.28, and the trend is to get stronger. The pound has been stronger than the dollar and the euro for quite a few years now

[josephsaunders]

He said professional investor shouldn't.

[adamselectricuniverse]

If you analyze Berkshire Hathaway and Buffet's performance, it was amazing the first half during a big growth period in the US, but the second half (measured taking into account the M2 money supply expansion) then it is virtually flat (especially the last 20 years). Not being critical, but when you get really big, it becomes very difficult to move the needle no matter how smart you are.