Business Pants – 2022-05-04

Live cool. Hello live from a soggy Bush. It's a buffet. Munger games games games, games edition of business pants. Joined as always by Emma. Steering wheel lurking. Where's your steering wheel? Emma. There. Oh god, with Delay from Amazon, too. Model maker mascardi. I'm at second base waiting for someone, for, for someone, from the covid team to hit me home. That's what I'm, that's literally what I feel like. I feel like I'm there's two outs. I've got a big lead off second base, Covid is my home plate. I'm like, are they gonna hit me in? I don't know. No, no one is. I are your your family still alive, right? There are alive, but I I'm like, staying a more more away from them because they're grossing me out because he do you go in with like a mask and like gloves, you know, I almost left in my office last night but the thought of like spending all day here and then sleeping here and waking up and staying here. It was just too much for me. You don't know. I'm pillows behind you. You have new pillows. I have, I have, I have a full couch. I have a full sectional. Do it, you're right. Your wife will vary dramatically be angry at you. It's true in today's pristine bag of Pringles shaped nuggets called May 4th 2022, Damion plays the Buffett diet fun food, fill in the blank quiz game, Emma plays the Buffett unfun facts true or false game and Matt plays the warrant Charlie or John Wayne folksy quotes a game. That's right, my my game has the best name. That's a lot of gas. Why are we doing this? Why are we playing so many games? It's a lot of Warren Buffett and Charlie Munger time. Why are we doing this? Because we have we what we basically have committed our hating. We're only once a year but we're gonna dump all over a stupid Warren Buffett. Charlie Munger facts today, no one really knows why and why because the annual meeting was this week, it was six hours, six hours of 290 year olds talking to to you. That's what it was. Just them really I mean they have the panel there and they they say some that the panel says some stuff too. But like literally everyone goes there just to hear from them and it was it was Warren Buffett talking for 30 minutes and then he says, Charlie do you have anything to add Charlie's chewing on his dentures and says one line and then everyone laughs? And then Warren Buffett talks for another 30 minutes it was six hours of that. I want to say, Totally reformed true to form. The I think the meeting was the 30th. The 28th. It was, it was at least, it was almost a week ago, a few days ago, they usually do it on the weekend. They are the slowest company, like usually we get those those meeting vote results. The next morning from all companies. They still haven't posted there. They don't care. No just say I don't care at all. Have you seen the links to their site there? I've seen them asking me. Yeah. All right. Come on ready? Yeah, let's do it. I want to play the first time. Let's play. I'm gonna play the, what is my game called? It is the Buffett, diet, fun, food, fill in the blank. Quiz game. Oh, this is inspired by a journalist if I can. I call them journalists at the Business Insider named Bob Bryan. That's his real name. Bob Bryan. Well, he wrote he actually did an article called, I ate like Warren Buffett for a week. He really did got a painfully painfully. Exhaustive article one of the longest articles I've ever read on Business Insider where he for five days he eats like Warren Buffett and he writes down everything. Everything he's done everything, it's crazy. I guess it's like the Super Size Me edition of Warren Buffett. So here we go. I tried to pull out the best facts. I've already cut this. This list in half matte so you can, you can imagine how exciting it could have been. Here we go. I'm hungry. Let's do it. I'm basically these in a form of blank question. I have I feel like Amazon's gonna know a lot of these answers, but let's see, let's see. So I'm gonna start with Matt Every Time Warren Buffett. Said that his breakfast comes each day from blank. And his dictated by blank. So, it comes from a comes from a certain place. And it's dictated by what Matt, I'm gonna go with it. Comes from McDonald's or Burger King. I'm gonna go Burger King, he seems like a Burger King guy and and is dictated by His children. I'm kind of surprised, isn't he a known major investor in McDonald's? but, I don't know about McDonald's. I can't remember which one that's why I picked up you just okay. Well yeah it's more right? It's McDonald's. You're right. Good and Emma knows all this. Yeah, I think. And the second part of the answer is very is kind of bizarre Matt. And I'm glad you didn't know this because it's gonna be new to you. Orders is breakfast dictated by the stock market. oh, So if the stocks are up when he when he ordered his lunch, he gets a bacon. Egg and cheese biscuit. This guy is literally insane if it's down, he gets a cheaper breakfast because he's feeling depressed, which is too sauces patties. And the difference in price. Here is like 60 cents. And then if the market is flat, he goes for the sausage McMuffin. That is. Let me just tell you. That is the worst nutritional advice I've ever heard. Okay, well, just gonna see that. Yeah, yeah, this is a there's something going on here. Yeah, we'll get to that. And the final question is I'm gonna ask you is how much weight did that reporter? Gain from Monday morning to Friday night? That's the final question. So you'll have to do the math in your head. Number two. Okay. Got it. What is Buffett's favorite drink? Coke. Yeah. Yeah. It's only drinks more. No more specifically Cherry Coke. Yeah more specific. Yes. More spits. Don't say no. How dare you Emma lurking more specifically it's Cherry Coker Diet Coke but that's Coke. Am I get it? Get off your high horse. Let's go. Oh yeah. It and I think, just, I think, Please, oh, lilac. If you get the Lilac scented Kleenex, you're still using Kleenex to know, but it's not comfortable, not comparable. It's all disgusting Coke. Matt. You're right, how many cans a day? Does he drink? I think it's like, like six or something. Oh, like that's being generous, it's five. Yeah, it's a lot. It's a lot of, you know, how much, how much sugar is that a day in Weight? As I believe there's like 70 grams of sugar and a single can. So you're talking about three grand system, it's 0.6 pounds of sugar a day, just in Coke, So here's a famous quote from Warren Buffett. I checked the actual aerial tables. And the lowest death rate is among blank years old, this, this age group. So I decided to eat like this age group link. So what's that age? What's the, what's the lowest death rate and what's his diet model after Whether he rolls what? What is it? 13 no. Am I probably knows that she's smiling. So he actually says this? Yes, he models his diet off of a six-year-old because of its lowest death rate. You better six year olds? Thanks. They don't die because they haven't gotten old enough to die from the diabetes. You're getting from this diet Yeah. How about this one Matt what does a buffet usually have for a side aside? Just aside at dinner, this is a meal that would that would put me into an instant nap and or commode experience, what is the app for the side dinner? A turkey leg. Close enough. Chicken reveal parmesan. It's a massive. Okay, moving on. Another. Actually, you know, maybe this is part of the model of Ronson, another signature Buffet tray is an excess of what. What is it, what is he really loved his diet access of what I? It's potatoes probably it's it's it can't be anything good. This is a yeah, it's just not something you like eat but you ingest. It's something that you would add to your pink like a oh, Like an old man. Think like, okay. Yeah, it's, it's gonna be something like that. Pepper Splenda salt. Yeah, exactly. It's salt. In fact, it. Yeah. So, he even put extra saw on his french fries, he'll get french fries and put more salt on them. That explains a lot, he's fully desiccated, like he's actually a walking mummy. That's why he, yes, which is true when he comes to your house. He comes with one of those desiccant packs, like, one of them. Yeah. And actually, they're taped all over his body to keep him alive. So, the former Wells Fargo CEO, John Stumpf has this famous quote, When the food comes Warren, grabs a salt shaker in his left hand and one it is right? And it's a snowstorm, it's a grown man. We're talking about growing and what but I know what you're going to ask, Matt, how the hell are there? Two salt shakers on the table. What's going on? Where they go. There's a logistical problem. Yeah, like I buy it. John bye. Wells Fargo once again Edition up shit. Okay, here we go. Here go Matt. This is a kind of a fun fact, Buffett once used what to buy, who lunch, where this is a, this is a tough one. I know there's a lot of just random blanks that could be. I can feel that in with literally anything, so that's what he wants. Took Bill Gates to lunch. Okay, restaurant McDonald's. Yeah, okay, coupons to buy Bill Gates lunch, this is the folk C, Genius of Warren Buffett at Bill Gates. If you're listening to this and I'm sure you are. Maybe if you use coupons, when you take out Elon Musk, after he put out rotund, pictures of you, he'll be on your side. That's right. You know. I'm actually kind of surprised that like Bill Gates went to McDonald's. I don't know. I feel like he's maybe that's Steve Jobs. That's true. Bill Gates is like the, he's like the Jay Leno compared to David Letterman. It was like Steve Jobs's Letterman and Bill Gates is the corny. He's like the corny, Warren Buffett, he does Bill Gates. I'm surprised when in I thought he'd do drive through. Mmm. Okay. Here's a here's a another round of Buffett fun food, facts. Buffett is not a big fan of, what, of what? What? He's not a big fan of vegetable easy. Yeah, that's an easy one. Specifically. What? Vegetable makes Warren Buffett sick. It's gonna be like, broccoli. It's gonna be like something that everyone hates spinach. He has no, he has. He just said that he hates broccoli, but specifically, says, cauliflower makes him sick what vegetable makes some rich. And as a hint, it's a, it's a little racing, it's a hint, a literation, what? I'm not gonna rhubarb that makes him know. There's no way I'm guessing that is not a vegetable. Is it again? The whole thing is ridiculous. This whole game. He will, let me just say this. Yeah, deep insight into the annual meeting. This is the way it works. What vegetable though, will he reluctantly not on occasionally? He has to. Well, it depends on what he considers a vegetable. I would figure potatoes and he'd be like, those are vegetables, right? Aren't they vegetables? No, they're not. They're starch. They're like you it's the one. I think that most kids will probably reluctantly eat to because they're really, they're cucumbers are and that's carrots. Because carrots are really sweet. Yeah, yeah. Here's a famous quote from Warren, Buffett regarding vegetables, broccoli asparagus, and Brussels sprouts. Look to me, like blank crawling around on a plate. And, as a hint, this is this is borderline racist because I don't really understand what the hell he's talking about. Oh, okay, and words, It looks like Chinese food crawling around on a plate. What is he talking about? I don't know man. Racism. What is that? Chinese food does not crawl know. I don't and you, I've never seen brussels sprouts at Chinese food. Broccoli. Of course, asparagus not too often. Have you ever seen like vegetables, crawl ever know. I don't understand all racism. Is that? Yeah, I don't know. You think they're eating bugs or something. This is gonna segue nicely into my game later on today. Luckily for you, Matt, I'm almost done with my game. Buffett has two particular quirks. When eating his meals, I'll give you the full credit if you can think of just one of the quirks. Matt, what? What's a quark Warren Buffett Quirk when you haven't listed them? Already know there's more physical like, you know, quirks. Physical gonna be like, like, the way he folds his napkin. I don't know. He eats his foods and sequence one at a time. Okay. That's fine. Is it fine? Yeah, I don't have a problem with that. A lot of people like that. Really? Yeah, one. Yeah. I know people think of one like, don't like their foods to touch on the plate. They want their dad. That's number two, Matt. Yeah. He does not like his foods to touch. What is that? But what is that? Look, they might get like Chinese on each other. You don't know a single person, you really are. I know all your friends eat TV dinners with those separate, like compartments. Is that it? I legitimately know people like that. And really for fear that the Chinese contaminates. Okay. Matt, what is Warren Buffett eat for breakfast. What's one of his favorite breakfast foods? I mean, we already talked about basically eggs sausage and bacon, right? But what else, what else is he like that breakfast? What else? More eggs, sausage and bacon and probably something ridiculous. Steak. Something ridiculous is right, no stake. Now I've seen steak on menus at breakfast. This is literally ridiculous ice cream. God damn it, he still alive. I don't know what I understand this one he is saying this, he's talking about he chooses his diet based on what makes him happy. And he says, I don't see Smiles on the faces of people at where where, where does he think? They're people are not happy. When they're Shopping. I don't see Smiles Ariana's. These ones, this one confused me and maybe it means that there's something wrong with me, but he says, I don't see Smiles on the faces of people at Whole Foods but I don't get that one. Because Whole Foods to me, I always thought were Geniuses because everything looks delicious at Whole Foods. I don't like this one. He's looking at it through like the Nebraska, what Nebraska, what beauty is different than he doesn't want to look at 80 dollar cheese with. Like, I'm just saying, like, I understand that the nickname whole paycheck, because it's ridiculously expensive, but it all looks amazing and all looks delicious when you eat the food from there. Yeah, that's when you smile about it, you're not smiling because you're paying so much for it, that's what he saying. Yeah, he's buying the food, he's smiling because he's thinking I I am getting so much for so little money. No, that's not what he's saying. He literally has like irritable bowel syndrome afterwards. Uh, two more questions. The Warren Buffett. Amazing. Fun game. Best game ever. Cnbc's cnbc's, Becky quick, who once traveled with Buffett to China and South Korea, learned that Buffett likes to travel but does not like to blank. He can't eat anything in those places, right? That's gotta be getting food. McDonald's child is literally a child. You won't eat the local food when traveling and finally Bob, Bryan the business reporter who ate like Buffett for five full work days? Yes Google it. This is a real article. He gained how many pounds from Monday morning to Friday evening. This is not even a full week, matte Just To Work Week. How many pounds? 14 pounds 14? Okay, you're ruined the game. This is this is an extraordinary amount of weight to me, even though I'm at ruined. It's six point. Eight pounds. Five days. Five days discussing. Yeah. That's the amazing. Warren Buffett. Food game moving. Wow. Whoa. Who else has a? Who else wants to take a stab at this? Come on, I can and make this show even left, it feel like Feel like Emma's making fun of me, I don't like that and yeah, it's here. So this is just true or false, this is gonna go really quick. You're welcome, let's just do it. All right. Here's your first true or false? Buffett has homes on four continents. Doesn't even famously. Just have the one false. Yeah, he's not, whereas he, I can't imagine that he the only con I can see him actually liking in an old man racist way is Europe, but even that I think is too adventurous for him. So I'm going to say what no false. He was one one That is correct. He has lived in the same house in Omaha since 1958 Yeah, that's very famous and I can't crap on that. I mean, fine. You know, good enough. All right, moving on. Number two, Buffett will give an employee a million dollars every year for the rest of their lives that they can guess and see double a sweet 16 teams. Just a sweet 16, not the winner, every game, the winner, every game, it's every game, get every game in the bracket, right? I think. Okay. So I'm gonna say fall. Yeah, false. Nope. Oh sweet. 16. Just a sweet 16. And he means and he means oh What he means the March 10th that we run or the basketball tournament. You know, I think that he's considering switching over to ours but right now he's feeling a little bit nervous about trying something new because he hasn't started eating differently since the Age of slow to accept change. Okay, I didn't realize that so it just to guess I guess that's statistically still improbable right to guess every, no one that's 16. Okay, no one has ever done it. Three. Buffett had a flip phone until 2020. I literally don't care. I don't care about this one. I'm gonna say true because I don't care. It's probably 2000 Night. 1980. Clever know it's true. It was just that is just 100% the truth and he still insists. that he only uses the IPhone for when he's on planes and to like send he insisted that he is not using it to its full capacity so he's still trying to fight be focusing. Oh Emma like so he's a major investor in apple but won't use their products. Whereas Emma's a major hater of Apple but uses all only their products. Yes right. He's Emma is actually opposite Buffet, okay? Is it buff it? Yeah, I'll take that. That's fine. I'd rather be opposite musk. So you wanna be opposite, Munger whatever, that is lots of Windows, that's all windows. All right, number four. Yeah, Buffett can play the fiddle. You know, I don't really care about this one. Is there isn't there is there like an old saying like you're fat as a fiddle? Fits exactly the opposite. Yeah, because I think he's as fat as a fiddle, right? He's fought as a fiddle. First of all, can I just say I'm gonna expose my East Coast elitism here, I hate the word fiddle. It's a violent violin. That's what I, that's what I grew up with. I don't like Biddle. I'm pretty sure that's racist. And the answer is. Yes, he can play the fiddle. Probably sir. Okay, cares. Know he can play the ukulele because he learned when he was 18 to impress a girl. And all right. Are you Buffet? All right it's time to come out the shower of Warren Buffett. Do it whether or not he plays instruments. Let's do something that actually came from the annual meeting its Warren Charlie or John Wayne the folksy quotes. He came. The game is simple. I give you quotes, you guess if it's Warren Charlie Munger or John Wayne the Duke himself? That's the game. That's it strapped in everybody. The winner is declared the folks here. Are you ready? Let's be let's be real. Matt if you squint it's really the same person that is why it's hard. That's what makes it so hard. Let's Do It. Come on. I'm excited. The quote in my life I try and avoid things that are stupid and evil and make me look bad in comparison to somebody else. Here's your clue. It's either about China, Florida or Bitcoin. What's the answer? I was gonna say, I don't think worrying about it, he doesn't say words like evil. That's a Hunger Game hunger's got a lot more like anger than Buffett. So, when I heard the word evil, I thought of Munger that Damien's answer is Munger, it's not the answer is Charlie Munger and it is about Bitcoin. Quote was about Bitcoin. Of course here. He hates everything. Really, I know he's English professors. Who hate English professors? Come on. No, he English professors from Swarthmore. That's true. That's true. Like he loves them from Exxon University. Here's the quote. Never apologized and never explained. It's a sign of weakness. Here's your clue. It's either About Bob chapek. Elon Musk or chief Pony, that walks. I my you know what, to me it sounded like something that that dummy George W, bush would say. So it made me think of John Wayne. So I thought John Wayne, that's my answer. Yeah, I feel like those aren't words that either buff it or Munger would say. Like I just can't really Envision them coming out of their mouths motive. Yeah. It is the Duke, the Duke himself and it was not you know who John Wayne is? I'm looking because I barely do I have never even seen John Wayne movies. I don't think I have, I was hoping that you would fall for, it was about Bob chapek. I was hoping that that would be, I wish I don't. Honestly I don't think they talk about that dude. I think one Bob Iger left their out. They don't care out on it. Yeah, here's your third quote. I don't think I'm smart. I think I'm saying here's your clue. Here's your clue. See they're about Casino capitalism, really bad. SAT scores or not believing in climate change. um, I'm going through the true folksy. Understated game here. Where Buffett likes to play this a lot. Whereas, the whole shocks, like, I don't know what I'm doing, but I'm but listen to me kind of bullshit so I think that's that's perfect because he, he clearly thinks he's a genius but there's Buffett and yeah, I just read something where he said that he spent 80% of his day reading and I feel like those are the oh, you know, I just read. I just you know I read and I make decisions it's not that big a deal so I'm going to stop it. Your balls, correct. And it's about Casino capitalism. They spent a good hour talking about how the market is turned into the market, oscillates between being for investors and like a casino, and it's always been that way. But right now, it's like so far towards Casino. It's always been that way. Yeah, he says, it's always. But anyway, but now it's just like, but now we're seeing in One Direction. Yeah, it's because of Robin Hood and and idiots. Do they Do they talk about, you know, Robin Hood's recent dip. They're like, did they sign up something? But a sign of something? Yeah, they think it's it's as well yesterday. That that was that's God. That's God. Be God. Wait. So so they're really, really, like if it's all just God. Why are they complaining? I don't understand. Like, I think God's know billionaires, I think that's the way that works. But I'm thinking God obviously wanted to see the stock market. Get all Casino we gamble. So why are they upset about that? I don't, they're not smart. They're just saying. I don't know. Here's your next quote. The best thing to do is basically shut up and not have a bunch of people facing consequences that they didn't ask for in the first place. Here's your clue, it's either about CEOs, waiting on politics, CEOs, joining Weight Watchers, or a, burgeoning CEO fetish for ball gags. It doesn't sound like John Wayne then um, I don't shut up. Yeah, I think that only Warren Buffett would say shut up out of those three. No. See I disagree. I if I hear anger, I go to Munger know, I think that's Buffett. I don't think, I think that Munger would say something more along the lines of I don't like to do evil things. You know. He doesn't say shut up like, yeah, I don't say shut up and die. Yeah. If it would just buff it. I'm Goin gaming. Goes Munger. The answer is Emma is correct. It is Warren Buffett talking about why he did not weigh in on politics particularly last show. Okay. So reference himself cutting about that's, that's about himself. I think the, basically, the thing to do is for me to shut up this way. I don't like, wait, he's gonna shut up. There's a day. Where he's gonna shut up. He's a steady would, if you asked me about politics, he'll shut up. Apparently, speaking of politics is your next quote, I believe in white supremacy until the blacks are educated to the point of responsibility. I don't believe in giving Authority in positions of leadership and judgment to irresponsible people. Here's your clue. It's either about diversity issues at Berkshire. Subsidiary the Oriental Trading Company? Yeah, firing of Papa John. Schnatter or just some casual racism. Yeah, I was really leaning in the like casual John Wayne racism when I heard that one. So I he was a known kind of Reagan. He racist monster, right? So special kind like a special. So I'm gonna lean on that one. Really special guy, read some quotes. I'm also what I happen to know about it is, John Wayne, although I would like to point out, diversity has been on the ballot at Berkshire for many years, and they do not. They literally do not care. They don't care to be fair, I don't know about Charlie bunker, but Warren Buffett is a known supporter of democratic politicians, right? He's not like a trumpian, right? No no. These neither of them are actually very trumpy, all right? But both don't care about, they don't the issues right? Because even Republicans buy sneakers kind of bullshit, right? Correct. Yeah, correct. Apparently, and finally, here's your last Quote ugly sneakers though. I've seen that poor pathetic. Architect who criticized me is just an ignoramus. Come on, can't help himself. I guarantee the one thing about him, he's not fixable, here's your clue. Yeah, it's either about a windowless dorm. A glass only dorm or an architect named Bill dormice. Come on. I mean this is a this is a layup. I mean this is like yeah this is like Shaq going against Charlie Munger one-on-one is obviously it it is Charlie. Munger talking about the architect criticizing him for his windowless, dorm that he proposed and made into reality. That was the quote game you guys did. Um, surprisingly, well, that's how well we know our material this is why This is why. You should support Freeport media and all Endeavors. Matt, you're working on a an incredible. What are you doing? What are you doing? Some kind of consultation with a client? You're making models like. This is why you should hire us. Because we know every big bottles, even the Arcane we make ESG models. Yeah, we do. That's what we do. I know nothing. I know that you all know that there's nowhere. We're making money from this nonsense, but we are clearly are making money somehow because we're still here for a couple of years. So, hire us come, you know how? I know that we're not making money from this, because when we ask people to subscribe and share and maybe like, reach out to us and participate, it's crickets. It's nothing. It's just, we're talking to ourselves. That's what. Well me don't be so ashamed because Facebook is is completely ending its podcast business. So it's typical it's difficult not just aesthetic, scratching, right? It's hard. We be Facebook. That's like a win. Yeah, we beat Facebook. Exactly. We did we lasted longer? That's all we've got for today and that's your Buffett. Munger, you don't need any more of that we will. Talk to you again some other time. Goodbye.