'Why I Fire People Every Day' - Warren Buffett

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Warren Buffett explains how he filters out people in business.

The question goes: “You obviously have filters that you apply on selecting people as you do on stocks. Can you tell us a little bit about what those filters are?”
From Berkshire Hathaway Annual Shareholders Meeting. (1998)

Warren E. Buffett is an American long-term investor, philanthropist, business tycoon, and the chairman & CEO of Berkshire Hathaway. He is considered one of the most successful investors in the world and has a net worth over 100 billion dollars. Buffett was born in Omaha, Nebraska. He developed an interest in business and investing in his youth and made truly incredible stock market returns over his career.


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"Why I Fire People Every Day" - Warren Buffett

[FREENVESTING]

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[tongobong]

After watching this I still don't know how they do it.

[MS-wbmf]

We need a filter for selecting US Presidents.

[trooking]

0:44 key point is when they meet the manager, “we have to decide whether they love the business or they love money.”

[jacknguyen]

Here is how Warren Buffet believes:
“We love money”
“You love the business, working for us 10-12 hours a day”

[Ali-Muscle]

I like how he always breaks the ice for his pal. He always makes sure Charlie gets to give us his input as well.

[joemahoney]

I worked at a company once owned by BH. They brought in 2 turds as CEO and CFO. At the very first staff meeting the CEO turd opened with this line, “There will not be any raises.” How inspiring.

[mightymystery]

The truth applies from the top, down. I worked briefly for an airline that gave its people high pay, sick time, paid vacation, set schedules that covered underserved markets, charged the minimum fare necessary, and slowly expanded, pumping money into expansion and employee benefits. They got bought in a hostile takeover, by a limited route airline that charged the maximum, offered no frills, overpaid management, and had enough reserve assets for the buy. Power and the bottom line were their interest. They went bankrupt twice, finally bought out by a little competitor they used to mock.
Love of people kept one company going for 50 years. Love of money destroyed it and its purchaser in barely over 10.

[mj]

I love when people who care only about money talk about how people below them shouldn't care only about money. When times are tough, how many companies will refrain from laying off an employee because they love the employee more than money? I would say none. In our capitalistic system, in fact they are required to put money above all else.

[rapho]

Ive done many job interviews in the past so i can tell you after some experience i knew. It also calmed me down and then i was hired almost every time. I did this: keep in mind its not about you, thats your personal business. Turn the rolls around! you are the interviewer, the one that asks the questions. Ask about their business. Are they worthly enough for you to spend years of time with them.

[Jessicatorres_]

Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Instead of trying to predict and prognosticate the stability of the market and precisely when the change is going to happen, a better strategy is simply having a portfolio that’s well prepared for any eventually, that’s how some folks' been averaging 150K every 7week these past 4months according to Bloomberg.

[watchfan]

You keep hitting the ball, so these two gentlemen keep growing their net worth.

[mrabbybrayden]

Whatever skill you are doing, and good at pls put in your best, allot of fellow has make hug mistake by meeting with wrong people, to extend they don't believe legit once because of their past experiences.

[edyedy]

They didn't actually answer the question so smart of them!

[joesphcu]

A recession as bad it can be, provides good buying opportunities in the markets if you’re careful and it can also create volatility giving great short time buy and sell opportunities too. This is not financial advise but get buying, cash isn’t king at all in this time!

[quartytypo]

The takeaway here is if Warren Buffett asked you a question, don't answer it.

[jamesbtalley]

Since the beginning of the year, I have purchased a few equities, but nothing significant. Why am I being so unkind to this? The fact that others in my field make six figures each piece, nevertheless, motivates me to want to be the first member of my polygamous family to earn a million dollars. I am fully aware of the expense of working more to get more money.

[suetipping]

At 73, I was asked to return annually for tax prep season. I love anything accounting, anything. They wouldn't have even had to pay me for doing someting I loved doing. But, I had 3 little grandchildren down the street who I also loved, so I left the workforce at 73 to be with the little ones. It's a wonderful life!

[Raymondjohn]

To my understanding this just proves how much we need an edge as investors because playing the market like everyone else just isn’t good enough. I've been quite unsure about investing in this current market and at the same time I feel it's the best time to get started on the market, what are your thoughts?

[nhtmhhj]

I have been in the rental business for 30 years. People ask me "How do you find good tenants?" When you eliminate ALL of the bad ones only the good ones are left.