Warren Buffett used scuttlebutt during the American Express salad oil scandal by visiting places that accepted American Express, talking to waiters and customers about whether behavior had changed, and concluded the scandal wouldn't hurt the business's core economics, allowing him to profit significantly.
factualpending
Speaker
Kyle GrieveEvidence Quote
“he just simply went to places that accepted American Express and he hung around the cash register he did things like ask waiters if people were still using the American Express card and he asked if the customer Behaviour had changed at all once he deemed that their behavior had not changed he knew that American Express was an opportunity that was lying in the open for him to take advantage of”
Source
Scuttlebutt and Sleuthing: Unveiling the Secrets of Successful Investors w/ Kyle Grieve (TIP694)— The Investor’s PodcastCreated: 8/11/2026, 7:47:48 AM
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