Buffett acknowledges he and Munger cannot identify 100% or even 80-90% of frauds, but focus on identifying and avoiding the obvious ones that 'jump out' through clear signals.

factualpending

Speaker

Warren Buffett

Evidence Quote

we can't identify 100 of the frauds or 90 or 80 but there's certain ones that jump out to you

Source

Warren Buffett On Exposing Business Frauds And DeceptionThe Long-Term Investor
Created: 8/12/2026, 5:58:06 PM

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