Jump to content

C-Span panel video with Buffett, Immelt, Schwab, Dimon, Yerger and Thain

Recommended Posts

Guest longinvestor

Great video, with a terrific panel but over 2 hours long. Here is an edited version, of only Buffett, that is just under 10 minutes long.




An interesting tidbit in this clip is the discussion over FASB and Warren's comment (6:56 mark) was very interesting. He says that only 2 of the 500 companies in the S&P Index are applying the FASB as it relates to options accounting in the "preferred way"; The other 498 are using it in the "other way" (to boost earnings). He also says that the FASB was muscled into allowing the "other way".


Anybody know which two?


What's wrong in this picture? And this is just one way the books are cooked to make earnings look better than they actually are. I can think of pension liability accounting as well. Any others? What are the true earnings of the corporations? Are they desperate? Again, Warren has stated that at BRK, they "add up revenues, subtract expense, pay taxes and report earnings". How many corporations do this. Apparently not, as evidenced by overwhelmingly "smooth earnings" reported by them versus the lumps at BRK.

Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

  • Create New...