TIP484: How Warren Buffett Became the Greatest Investor to Ever Live (Part 2)
We Study Billionaires - The Investor’s Podcast Network
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Building and Protecting Reputation
Buffett and Munger faced disappointments with Solomon due to subpar financial results, executive focus on bonuses, and boardroom disagreements. Despite negative perceptions, Buffett did not back out and got involved once a scandal arose. Solomon manipulated the market through unauthorized bids, causing substantial losses. Buffett stepped in to rescue the company, conducting interviews to restructure the firm and protect his hard-earned reputation from being tarnished by Solomon's scandal.
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