historicalLetter2025-07-01conf:high
2025 Berkshire Hathaway Shareholder Letter (Greg Abel)
“at each shareholder meeting we played a clip from Warren's 1991 Salomon Brothers Congressional testimony”
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Salomon Brothers
64 mentions across the corpus · positive 6 · negative 25 · neutral 26 · historical 7
neutralMeeting2019-07-01conf:medium
Daily Journal Annual Meeting 2019 — Munger Q&A
“even during the Salomon Brothers scandal were you always able to get eight hours of sleep”
historicalInterview2018-05-07conf:high
Criticizing the cryptocurrency craze | May 7, 2018
“I put him in total charge of running Solomon Brothers...We had the largest balance sheet in Wall Street...had to come up with somebody by Saturday afternoon to run the place.”
negativeMeeting2017-05-06conf:medium
Morning Session - 2017 Meeting
“That Solomon situation that you saw happened because I'm on April, I think, 28th, the CEO of Solomon, the president of Solomon, the general counsel of Solomon, sat in a room”
neutralInterview2017-01-30conf:medium
Carol Loomis Interview: Warren Buffett's Principles and Ethics
“he had come in to take over solomon brothers to save it from bankruptcy he had come in to keep it on its feet”
positiveInterview2017-01-30conf:medium
Sandy Gottesman Interview: A Friendship in Finance with Warren Buffett
“Salomon was a pretty good franchise at the time. I mean, they were top trader...very aggressive, successful firm”
neutralInterview2017-01-30conf:medium
Sandy Gottesman Interview: A Friendship in Finance with Warren Buffett
“in those days, Salomon was a very, very cheap stock. It was selling for much less than its value”
negativeInterview2017-01-30conf:medium
Sandy Gottesman Interview: A Friendship in Finance with Warren Buffett
“when the thing exploded, Warren had 24 hours or less to make up his mind as whether he was going to go forward or just bow out. And I think at that point, Salomon Brothers could have gone into bankrup”
positiveInterview2017-01-30conf:medium
Sandy Gottesman Interview: A Friendship in Finance with Warren Buffett
“certainly in in Salomon Brothers, he deserves every bit of praise”
negativeInterview2017-01-30conf:medium
Sandy Gottesman Interview: A Friendship in Finance with Warren Buffett
“There was an element of fraud involved in this this man at Solomon Brothers who had broken the law of the Federal Reserve”
neutralInterview2017-01-30conf:high
Carol Loomis Interview: Warren Buffett's Principles and Ethics
“if he took over at solomon first of all he hoped it would be temporary um and he would be taking no money from solomon”
neutralInterview2017-01-30conf:medium
Sandy Gottesman Interview: A Friendship in Finance with Warren Buffett
“for Solomon Brothers. And they used their capital that way I think many times.”
neutralInterview2017-01-30conf:high
Carol Loomis Interview: Warren Buffett's Principles and Ethics
“when warren took the job at solomon um he had once said that he was if he made one good business decision”
historicalMeeting2014-05-03conf:medium
Morning Session - 2014 Meeting
“At Solomon, we mentioned that a little early, everybody, virtually everybody was dissatisfied with what they were getting paid, and they were getting paid enormous amounts of money.”
negativeMeeting2011-04-30conf:high
Morning Session - 2011 Meeting
“I was elected the chairman at, what, about 3 o'clock in the afternoon or so, I think, on a Sunday, at Solomon. And I went down to address a press group”
neutralMeeting2010-05-01conf:medium
Morning Session - 2010 Meeting
“when we were working at Solomon together in a somewhat similar situation, we had as our motto, get it right, get it fast”
historicalInterview2008-07-01conf:medium
Warren Buffett 2008 Interview (Ivey Archive)
“Charlie was on the audit committee of Salomon Brothers, which was then a big player. He would spend 5 or 6 hours a meeting”
historicalEssay2007-07-01conf:medium
Wesco 2007 Annual Meeting — Notes of Charlie Munger's Remarks (Whitney Tilson)
“Did you sell your silver position too early because of the Salomon crisis? We bought it too soon and sold it too soon...had nothing to do with Salomon.”
neutralMeeting2006-05-06conf:medium
Morning Session - 2006 Meeting
“We were the biggest shareholder at Solomon. Two of us were on the board, and Warren was on the comp committee.”
neutralBook2005-07-01conf:medium
“I was in New York City with Charlie to attend a Salomon Brothers board meeting.”
historicalBook2005-07-01conf:medium
“the aftermath of the Salomon bond crisis of the early nineties where we were both serving on the board of directors”
neutralBook2005-07-01conf:high
“combined with Salomon Brothers' exit from the arbitrage business combined with foreign financial panics.”
historicalMeeting2005-04-30conf:high
Afternoon Session - 2005 Meeting
“Charlie and I were directors of Solomon, and Charlie was on the audit committee”
negativeMeeting2004-05-01conf:high
Afternoon Session - 2004 Meeting
“Solomon was at least as disciplined and honorable and and rational as the other leading investment banks. And yet, toward the end...Solomon was begging for new investment banking business from Maxwell”
negativeMeeting2004-05-01conf:high
Afternoon Session - 2004 Meeting
“if Solomon had gone bankrupt, the next day you would have had people on the other side of $1.2 trillion of notional amount of something like that, of derivatives”
negativeMeeting2004-05-01conf:high
Afternoon Session - 2004 Meeting
“one of the underwriting clients that that came forth that Solomon took on, that professed to be doing wonderful things with money, and it turned out to be a huge fraud”
negativeMeeting2001-04-28conf:medium
Afternoon Session - 2001 Meeting
“it was standard practice at Solomon when I was there, and as I say, people occasionally crack under that.”
neutralLetter1997-07-01conf:medium
Wesco Financial Annual Letter 1997
“$63 million realized on the exchange of Salomon stock for Travelers stock”
negativeMeeting1997-05-05conf:medium
Morning Session - 1997 Meeting
“when you purchased or invested in the Solomon Brothers convertible preferred stock, you had the eight years. year, win, rather the eight year time frame to convert it into common or take the cash out.”
neutralMeeting1995-05-01conf:medium
Afternoon Session - 1995 Meeting
“a more specific question about Solomon Brothers, which is, why do we pay our employees there so much?”
neutralMeeting1995-05-01conf:medium
Morning Session - 1995 Meeting
“I think Solomon brothers incidentally has been retained by that we have nothing to do with Charlie and I read that in the paper”
positiveMeeting1995-05-01conf:high
Morning Session - 1995 Meeting
“Solomon's going to be around for a long time rendering very good service to various clients. Satisfied clients.”
negativeMeeting1995-05-01conf:medium
Afternoon Session - 1995 Meeting
“owning Solomon Brothers was like owning a casino with a restaurant in the front. The casino alluding to the proprietary trading”
neutralMeeting1994-04-25conf:medium
Morning Session - 1994 Meeting
“We also have some people in the room that do business in derivatives from Solomon.”
neutralMeeting1994-04-25conf:medium
Afternoon Session - 1994 Meeting
“the valuation, of some of your holdings versus others in terms of the market valuation, in terms of price to earnings, price to book. In your opinion, do the growth prospects of Solomon Brothers”
positiveMeeting1994-04-25conf:medium
Morning Session - 1994 Meeting
“the chief executive of Solomon Brothers, the investment banking arm...They did an exceptional job under extraordinarily difficult circumstances”
neutralMeeting1994-04-25conf:medium
Morning Session - 1994 Meeting
“we think it's comfortable playing in derivatives through Solomon Brothers and betting on hurricanes”
positiveLetter1992-07-01conf:high
1992 Berkshire Hathaway Shareholder Letter
“Salomon Brothers, the securities subsidiary of Salomon Inc, reported record pre-tax earnings last year - 34% above the previous high.”
neutralLetter1991-07-01conf:medium
1991 Berkshire Hathaway Shareholder Letter
“Neither function is impeded by my work at Salomon.”
negativeInterview1991-07-01conf:high
Warren Buffett | Testimony | Salomon Brothers | Securities Trading Investigation | 1991
“The Solomon revelations relate directly to the areas of inquiry in that letter. The admissions of wrongdoing at Solomon not only reveal an arrogant disdain for the law by former Solomon Brothers offic”
negativeInterview1991-07-01conf:high
Warren Buffett | Testimony | Salomon Brothers | Securities Trading Investigation | 1991
“illegally enrich the company and perhaps also determine in advance interest rates that affect other securities. And why didn't those at the top of Solomon Brothers reported as soon as they found it ou”
negativeInterview1991-07-01conf:high
Warren Buffett | Testimony | Salomon Brothers | Securities Trading Investigation | 1991
“It's distressing that Solomon Brothers' chief officers withheld the information from the government for months before a government inquiry finally persuaded them to come forward”
negativeInterview1991-07-01conf:high
Warren Buffett | Testimony | Salomon Brothers | Securities Trading Investigation | 1991
“are the American people who ultimately are responsible for paying off these government securities being ripped off by a few aggressive traders manipulating the market. In effect, was Solomon Brothers'”
negativeInterview1991-07-01conf:high
Warren Buffett | Testimony | Salomon Brothers | Securities Trading Investigation | 1991
“involving arcane trading practices of one of Wall Street's most prestigious firms. But stripped of all of the language of Wall Street's bond traders, what the public”
negativeInterview1991-07-01conf:high
Warren Buffett | Testimony | Salomon Brothers | Securities Trading Investigation | 1991
“holding today's hearing on what has been appropriately referred to as a Solomon Brothers case”
negativeInterview1991-07-01conf:high
Warren Buffett | Testimony | Salomon Brothers | Securities Trading Investigation | 1991
“the Solomon Brothers case and by those of us in Congress seeking both to prevent any such recurrence and to improve the fundamental fairness and integrity of this market”
negativeInterview1991-07-01conf:high
Warren Buffett | Testimony | Salomon Brothers | Securities Trading Investigation | 1991
“It's deeply troubling to me to learn that Solomon Brothers, one of Wall Street's most respected names had on several occasions violated the Treasury's rules”
neutralInterview1991-07-01conf:high
Warren Buffett | Testimony | Salomon Brothers | Securities Trading Investigation | 1991
“for thousands of shareholders of Solomon Brothers, for hundreds of thousands of investors around the world, and for some 8,000 employees of Solomon Brothers”
negativeInterview1991-07-01conf:medium
Warren Buffett | Testimony | Salomon Brothers | Securities Trading Investigation | 1991
“those responsible deserve absolutely nothing from Solomon Brothers, not a dime in severance pay, not a dime in any kind of remuneration”
negativeInterview1991-07-01conf:high
Warren Buffett | Testimony | Salomon Brothers | Securities Trading Investigation | 1991
“in dealing with these people that you're dealing with within Solomon Brothers. Thank you, Mr. Chairman.”
neutralInterview1991-07-01conf:high
Warren Buffett | Testimony | Salomon Brothers | Securities Trading Investigation | 1991
“Salomon Brothers had been closed down, we might have been in here a few weeks earlier, Mr. Chairman, having an emergency hearing because of an overnight failure of a major institution”
neutralInterview1991-07-01conf:high
Warren Buffett | Testimony | Salomon Brothers | Securities Trading Investigation | 1991
“Mr. Warren Buffett, the new chairman and chief executive officer of Solomon and brothers”
neutralInterview1991-07-01conf:medium
Warren Buffett | Testimony | Salomon Brothers | Securities Trading Investigation | 1991
“Warren has been called up for a very special tour of duty to guide Solomon brothers through a crucial time.”
negativeInterview1991-07-01conf:high
Warren Buffett | Testimony | Salomon Brothers | Securities Trading Investigation | 1991
“Lose money for the firm and I will be understanding, lose a shred of reputation for the firm, and I will be ruthless.”
negativeInterview1991-07-01conf:high
Warren Buffett | Testimony | Salomon Brothers | Securities Trading Investigation | 1991
“Is Mr. Mosier's set of actions and the response of other executives to his actions at Solomon Brothers, something which is sui generis”
neutralInterview1991-07-01conf:high
Warren Buffett | Testimony | Salomon Brothers | Securities Trading Investigation | 1991
“A detailed accounting of the profit acquired by Solomon Brothers Incorporated, resulting from transactions from the following four auctions”
negativeInterview1991-07-01conf:high
Warren Buffett | Testimony | Salomon Brothers | Securities Trading Investigation | 1991
“Did the Board of Directors of Solomon Brothers approve Golden Parachutes for Mr. Gut Friend Strauss or Meriwether? No, sir, they did not.”
negativeInterview1991-07-01conf:high
Warren Buffett | Testimony | Salomon Brothers | Securities Trading Investigation | 1991
“senior management's delay in reporting the violations was inexplicable and inexcusable... as a member of the board at Solomon Brothers, that senior management might have noticed”
neutralInterview1991-07-01conf:high
Warren Buffett | Testimony | Salomon Brothers | Securities Trading Investigation | 1991
“the board of directors, as I understand, of a corporation such as Solomon Brothers, has a duty to oversee the officers of the company”
neutralInterview1991-07-01conf:high
Warren Buffett | Testimony | Salomon Brothers | Securities Trading Investigation | 1991
“The board met perhaps eight times a year, something in that range, seven times. The primary sources of information for a board come from external auditors.”
neutralInterview1991-07-01conf:medium
Warren Buffett | Testimony | Salomon Brothers | Securities Trading Investigation | 1991
“Salomon had bid 35 percent and received very close to 35 percent... The bids were put in through Solomon, and Solomon controlled the collateral.”
negativeInterview1991-07-01conf:high
Warren Buffett | Testimony | Salomon Brothers | Securities Trading Investigation | 1991
“unless somebody is cheating and puts a phony ticket in and then has happened at Solomon in several cases”
positiveLetter1989-07-01conf:medium
1989 Berkshire Hathaway Shareholder Letter
“Salomon Brothers handled the underwriting in superb fashion, providing us helpful advice and a flawless execution.”
neutralLetter1988-07-01conf:high
1988 Berkshire Hathaway Shareholder Letter
“because of Salomon's participation in a bidding group. Customarily, Charlie and I, though we are directors of Salomon”