What Is the Key to a Successful Investment? Wells Fargo

Wells Fargo is a company that proved the efficacy of incentives and it is just that they had the wrong incentives and that was bad. We know people are doing something wrong right as we sit here at Berkshire. You can't have 377,000 employees and expect that everyone is behaving like Ben Franklin or something out there. I don't know whether there are 10 things being done wrong as we speak or 20 or 50. The important thing is we don't want to incentivize that if we can avoid it."