Warren Buffett CNBC Interview All Videos

carefully at costs. but they should own a diversified group of high-class companies which you can do by buying an index fund and then pretend the stock market closes for five years and shouldn’t look at prices every day. did you see a story over the weekend from the new york times that focused on jpmorgan and their wealth management business? yeah. it took a look at, or at least it talked to some disgruntled former wealth asset management bankers, who said that jpmorgan was kind of pushing them into their own products instead of maybe looking at a more diversified bunch. i know you probably don’t know any of the specifics about this, but when you look at wall street in general, are there still big conflicts of interest? sure there are. but i’m not speaking of that one specifically. but the — people selling securities are often selling things they make a lot of money in. the first question you should ask of anybody selling securities is how are you getting paid and how much are you getting paid. and the truth is, you can own index funds with a very, very low cost. and you will end up getting the same performance that you get from people who charge you a lot more. so you’ll always want to look at costs. and when somebody comes around, even says i’m going to sell you this wonderful security but there’s this big chunk in it for me, you get suspicious. as they say, when a person with experience meets a person with money, the person with the money gets the experience and the person with the experience gets the money. okay. any last thoughts, very quickly, we have just about a minute left? i think that, you know, we live in the best country in the world, and we will solve our problems, and the people that own equities, purchased over time, not just when they get all excited about it, in a low-cost manner are going to do fine. warren, have you noticed that that ketchup bottle was already shaped like a ukulele? have you thought about that? like a custom-made — i mean, you could have one easily made and when you play the ukulele, you could be pushing your products. we’re going to see how this one sell and if it performs like i anticipate, they probably will put me in charge of new product development. red e-made for — that is my favorite i decided, when i looked at both of them. i do like the — what’s it say? preferred by hot dogs, and then it has your picture. that i like. we’re in business, joe. all right. warren becky, great job. warren, thanks so much for all your time. phenomenal as usual. we appreciate it. becky, get home safe.