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182,735 Views ⢠Mar 28, 2022 ⢠Click to toggle off description
An interesting quirk of Warren Buffettâs recently announced takeover of Alleghany is that Berkshire Hathaway will pay Alleghany shareholders exactly $848.02 per share, after initially offering $850.
The reason for the $1.98 per share deduction? Well, Buffett, didn't want to pay the investment banking fees that are routinely included in mergers and acquisitions. In 2015, Buffett wrote that investment bankers are âmouths with expensive tastesâ that âclamor to be fed,â adding âMoney-shufflers donât come cheap.â
There are other fees included in the deal price, such as the Lawyers that Alleghany hired to represent them, and Warren didnât feel the need to exclude those fees from the deal price. Itâs Just The Bankers That He Doesnât Like
#Shorts
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Views : 182,735
Genre: Education
Uploaded At Mar 28, 2022 ^^
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RYD date created : 2022-04-09T16:26:31.819817Z
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YouTube Comments - 180 Comments
Top Comments of this video!! :3
and that is why he is so wealthy. He knows who is stealing oxygen and who is not.
554 |
Bankers! Money shufflers with big mouths,great summary by Warren Buffet.
205 |
I worked for the worldâs largest commercial real estate brokerage firm for a couple of years; while the brokers would take less than 1% for their commission on a big commercial deal, investment bankers could swallow up as much as 5% of the purchase price. Iâm not surprised that Mister Buffet chose to ignore that fee.
26 |
Investment banker is one of the main indirect beneficiaries of fedâs inflationary policies, too much money that are in need of allocation
106 |
I have the same view of investment bankers.
229 |
good for Buffet, admire him even more
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BASED Buffet
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Bankers and consultants, those make up the wonderful side of business and finance
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Welp. He's saving money. How else are you gonna get rich by paying everyone who asks?
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I'm pretty sure this is wrong. 848.02 is actually a Boomer reference to smoking pot
25 |
The IBs have all the information, though. They know where the deal fits best because they know all the failed deals that were never publicized. But yeah they have no code of ethics or diaclosure.
5 |
Lawyers make a living by protecting against and mitigating risk. Investment bankers make a living by obscuring risks. Lawyers earn their fee, whereas bankers earn contempt.
14 |
I LOVE this.. go WB!
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Glad he has his priorities straight
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Friendship ended with bankers, lawyers are my best friends now.
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Sounds good to me!
24 |
Rich people really should sue each other more
5 |
Every time Warren Buffet bought a company near me, they laid off all the employees and sent the manufacturing to another country.
99 |
My favorite fitness gacha creator. When will you make videos about how to get the body builds of Honkai/genshin characters and other fictional video game characters?
1 |
@foobarFR
2 years ago
Buffet was almost forced to save Salomon Brothers in 1991 after a serie of frauds and scandals - he had to step in and accept to be CEO. He accepted because otherwise the bank wouldn't have been bailed out. That gave one of his most famous quote : "Mozer [the one who was responsible of frauds and manipulations] served four months in jail, whereas I had to serve one year as CEO!"
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