Warren Buffett on reputation: lose a shred and I will be ruthless (1991)


Summary

The video details key actions to position Solomon as a leader in the financial services industry, particularly centered around controls and compliance procedures. It emphasizes using the right language, implementing a comprehensive range of internal controls, and ensuring strict adherence to rules by all Solomon officers. The importance of an ethical decision-making approach is highlighted, prompting employees to evaluate if their actions would be suitable for public scrutiny amongst family and friends on the front page of a newspaper.


Building a Leader in Financial Services

Details actions to make Solomon a leader in the financial services industry with a focus on controls and compliance procedures.

Importance of Compliance

Emphasizes the importance of compliance, including using the right words, having a full range of internal controls, and ensuring that every Solomon officer follows all rules.

Ethical Considerations

Highlights the ethical approach to decision-making by asking employees to consider if their actions would be acceptable if reported on the front page the next day to family and friends.

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