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hello today I want to talk about something really exciting and fascinating Warren Buffett vs Bitcoin why he hates the stuff why Warren Buffett does not like technology just some thoughts about that because I'm sure you wonder that I have um and it's some really cool stuff about yeah all that kind of stuff well before I begin down below in the description there's a link okay and if you click on that bad boy that is training on I really truly believe the most important part of internet marketing that is converting that is you know taking someone's money and actually put it into your pocket because that's the hard part I mean in marketing so it's really good education now here's what Warren Buffett says what about interesting in short-run the market is a voting machine in long run it's a weighing machine so weight Calci ventually but votes count in the short term now Warren Buffett is a value investor he'd learned from Benjamin Graham he's the guy type of guy who looks for cigarette butts that you know have one or two more puffs in him but people threw him away yeah there's value there pekes is not for cheap right in fact when he was a kid he was to go to horse race tracks and he used to go through all the discarded tickets and look for money and flinters because people would throw him away you know value he's a big value investor now if I just talks he reads stocks all day long and he looks for undervalued companies he just buy it at the shoutout and he made a bunch of money because well and that's jelly he just used other people's money to help them make more money and he was a cheat sheet look buddy he'll carry the luggage drives a car and stuff all right so well the fascinating thing that Warren Buffett is he hates technology you know number two best full part from Charlie Munger is Bill Gates who's made a bunch of money technology but I was always fascinated me why the heck does he hate technology but right before there's a story that I want to share with you which is it's very interesting and right before the doc bubble burst he went to this privates is like party was not the country and stuff and all the movers and shakers were there I a private event like a week-long event and you know I guess we came in the room right the dot-com money makers their new money and yeah you got mr.
money over here and loved their life look at these dinosaurs they don't know what the hell they're doing we're gonna pass them up we're the [ __ ] you know they back there or everything and one buff is he kind of looks like old my buddy hey the guy went there to gave his speech and it's pretty funny and what he said was I'm gonna say someone stuff he said which I thought was really fascinating cuz it was the most powerful thing in that event and then you know but anyways although innovation might lift the world of poverty people invest in innovation historically have not been glad afterwards and he gets to Minneapolis there were 3,000 automobile companies he is the most important invention at the first half of the century guess how many survived three boom three now one time or another three were selling less for the book value and book values the amount of money that hasn't put in the companies and just left there okay book the how you means and they're eventually talked about airplane our huge invention you know during the key hawk and Wright brothers you might go look at that thing everybody fly these bad boys everywhere they go we're gonna make all kinds of money I started with 200 companies and as a couple of years ago there's like nobody in airplanes in stock industry in the airplane industry so already make a profit that's like that's kind of kind of interesting so he said that it's wonderful to promote new industries because they're very promotable they're very sexy it's very hard to promote investments in mundane products yeah because there's just like you know Geico or real all I talk about guy kill that guy coinsurance was you know yards Geico actually started from government employees and Benjamin granting with the school were for Benjamin Graham but Benjamin Graham was on the forward of Geico that's how he learned about it but their moat was cheap insurance that was a competitive advantage but what he says Warren Buffett is as much easier to promote esoteric products esoteric means you know people you know they can't understand it oh well it means only understood by a very small amount of people esoteric so there's the word of the day even particularly one of the losers because easy to promote new products and even losers because there's no quantitative guideline nobody really understands the [ __ ] it could be the snake oil salesman you could be the pyramid scam artists was a guy named from New York reputed drawing a blank but you did some big pyramid scam boom look at Bitcoin how do people actually understand Bitcoin how it actually works how there's like $1,300 in sees now there's even though Chuckie Cheese Co Chuckie Cheese talkin operatically at reptoid I hope you'll actually understand that stuff that many but it seemed money being made oh I like it [ __ ] I like it on that it's very emotional markets are very they're not logical um now but he says it reminds him of story which was very fascinating uh well prospector who died in what you had it okay and he came up there received Peters like well check you out and email all the qualifications you can actually arrive in heaven but there's the problem and we have to tough zoning laws up here and well we keep all the oil prospectors over in this one place in heaven it's like a pen and as you can see over there it's just chock full of oil prospectors there's all those pen you know not that much room okay and the prospector said do you map I just say for it's synchronized so hard with that go ahead and he goes Zoey says prospector cuts his hand goes all discovered in hell and of course two locks him up okay it's not a guy oh we gotta go we gotta go we got so they head straight down the hill and see better st.
Peter says that's a pretty slick trick you know yeah a lot of room now make yourself at home you know all the room in the world and the prospector paused for a minute about doing wait a minute I think I'll go down the rest of those boys there might be some truth to that rumor after all and yeah if you look at that story it's a high relates a little bit kind of compares to stocks speculations Bitcoin other investments what Benjamin Graham used to say is you can you can get in way more trouble with a good idea than a bad idea because you forget the good idea has limits okay a lot of investing comes down to common sense and I want to talk to one thing Warren Buffett said then said an interview which I just remembered I want to share with you I was forgetting it but they said we look at Bitcoin it's really just money moving hands okay but the funny thing is it's not really that faster because if you tried to get on exchange it's not easy they got all these laws and Lupo's it took me I had to get verified which took me ten tries and then when I got better if I couldn't upload the funds so now uh suppose what I can't blow the funds I actually tried just for the hell of it I couldn't do it for some weird reason but at the end of the day you're just taking money and you're uploading funds to exchange and then you know if they send over something anonymously and you go down again it's kind of like wow you know you could do the same damn thing but it's another service or whatever so you gotta look at what the value but brings a society and there is potential with blockchain don't get me wrong there's I did a video all the cool stuff it could do like with voting and now internet 2.0 and there's predicting predictive marketing but there's theories right now and that's the that's the trouble it's speculation okay that's the problem with it so a lot of investing you know what he talks about which I'm learning from it comes out of common sense you know something's like a bubble and there's bubbles all the place you know like the housing bubble where you know homes are being sold for a shitload of money but you only rent about four just a little tiny bit of money you know that shit's overpriced you know uh you know it's a bubble and you know and knowing the value of what an investment really would give you whether it be a house stock a crypto currencies is a very important thing it comes down to the value investing philosophy so sure that sure there's value in Bitcoin don't get me wrong I said this is great technology but is it worth you know $17,000 ten thousand dollars that's the challenging part and it's even more challenging because it's more complicated because you're not gonna sure what the marketplace is gonna be like in a couple of years from now you know hey that's the hard part to figure out and that's why I think more Buffett invest in a lot of these simple companies because you can understand them and you know you know where they're gonna be in like five years from now or ten years from now with with Bitcoin who knows what the hell is gonna happen now there's a lot of variables at play and it could pay off you know don't get it wrong it could be you know nobody knows they'll get the crystal ball picadors a lot so that's the challenging part and that's investing so I always like the saying that you making money when you buy not when you sell if you're expecting the price to go up it's gambling and there's always a chance and you you want to put as much the chance in your favor I guess anyways just my thoughts um you know if you like this video thumbs up button if you learned something new I thought was pretty cool I wanna share with you one of the best investments I honestly think that you it's really hard to go wrong with his education and that's what's so cool about YouTube and I'll cost down you're learning from other people too was a great tool the internet decentralization of information and one of the most valuable skills I honestly believe because in my own personal experience I know from this is learning how to convert sales online because all the traffic doesn't mean [ __ ] if you can't convert and that's a very good saying so if you really cheating if you really do want to make some money on the side on the internet that you can't go wrong learning how to convert okay cuz you'll learn that you'll use out the internet and nobody's are we talking about a face-to-face right it's no internet yes that's the way the trend is going you know so learning how to do that I mean you're gonna be had to gain you know you are and that's a something that you can always use in the future you leverage so leverage education okay its value education is valuable and powerful if you if you use it okay so anyways and you can use that some things in school I or do you like why don't you learn this we can't use this like calculus unless I'm an engineer you know you know lawyers make more money on engineers it's crazy so we'll have a tangent but click that link below if you're interested in learning how to make money online it's very good education the guy is very successful have a great model for Esther day and bye for now
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