Good morning allegedly squad welcome to today's video. This is tom, your friendly former senior financial analyst, currently a full-time youtuber here to bring you the news from the stock market, the bangers and the stuff. You don't hear in mainstream media. Let's get started we're going to be talking about warren buffett's, dire warning to the u.s stock market and retail investors.

We're going to be talking about this spacex successful landing, which the entire mainstream media is literally ignoring after bombarding us with the crash of the previous ones and, of course, like in any good meal. We have the dessert, which is the chairman of ubs apologizing for losing almost a billion dollars in the archaegous capital meltdown, but doing it in such a horrible manner that it makes youtuber apologies look legit. This was a show. We absolutely got ta react to what he did there, because i was looking at it.

I was like, oh my god, does he not have a publicist? Is he really saying this nonsense and, as always, don't smash? Nothing don't subscribe to nothing, don't buy. Nothing. Just give me your intention for the next five minutes, because i got some amazing goodies for you. You don't want to miss out on.

First of all, let's start with the spacex landing. As you know, the spaceship has landed the starship, whatever the hell. You want to call it, i don't care that thing landed, it did not explode, it looked pristine, it looked beautiful, however. Mainstream media seems to have forgotten about that event, because if you look it up, i mean don't lick it up.

Look it up. Non-Menstrual media is actually talking about this. I'm sure this thing is going to be the headline on cnbc. Let's go breaking news bank of england sees uk recovery gathering pace on covet vaccine rollo.

What the hell latest news. These talks could be the best place for a newfound consumer strength. India reports covert cases. What is this mizzou america's solar? What is this neo uk votes bank of england? Copper? Is the new oil chinese travel booking? Look at this.

Look at this from rolling chocolate hills to eco-friendly outdoor adventures. Here's why bull should be what the hell is this? What is going on japan, south of korea, stocks rise on mixed trading? Oh my god! What is going on? Oh, you literally have to scroll past the page stuff they're putting on here about traveling the philippines, just to get to this little side, piece about starship prototype successfully landing after tesla, oh, my goodness, which i find a little bit peculiar, because when starship actually completed its Mission but burned on the freaking crash, they made a whole story out of it, forgetting that the mission was actually completed successfully and now that the whole thing went nominal as elon said all of a sudden, they forgot about it. Look at the coincidence here. This is really crazy, since i'm russian and we as people don't believe in coincidence, as a concept, i'm gon na call on mainstream media.

Shame on you what's next! Are you gon na claim that this whole thing was cgi that that magically replaced the spaceship after it landed and exploded because of all the smoke? We couldn't see it some hefty workers chill the down for the second story of the day. We absolutely have to listen to what warren buffett said about inflation during the annual shareholders meeting of berkshire hathaway i'm going to play with the clip, and then i'm going to share with you my opinion about what he just said from raw material purchases by berkshire. Subsidiaries are you seeing signs of inflation beginning to increase? Let me answer that greg can get more we're seeing very substantial inflation. It's very interesting.

I mean we're raising prices. People are raising prices to us, it's being accepted, i mean it's not take home building, i mean you know. The cost of we've got nine home builders and, in addition to our manufactured housing and then uh operation, which is the largest in the country, so we really do a lot of housing. So we just heard warren buffett, and i want to summarize what he just said in five seconds.

We are screwed now for the more elaborate version. Essentially, what warren buffett is saying here is that inflation is not only coming. It's already here he's talking about feeling it in the commodity prices and the raw materials pretty much. The businesses feel it before the consumers, because they see the process getting more expensive.

It's only a question of time until our products, our services, become more expensive. That point the fed has to raise interest rates which will crush tech stocks. We know this as a fact. In fact, jen yellen actually blurted out during an interview which she shouldn't, because the government doesn't want to create panic and trust me.

The politicians are not stupid. Jerome paul knows this: ellen knows this jerome powell can't say it: jen ellen should not have said it and yet blurted out on national tv, but the truth cannot be changed with what politicians say on national tv or not. The fact of the matter is inflation at this situation. At this junction is inevitable, prices will go up, interest will go up, stock prices of tech stocks will go down, it is inevitable and, unlike mainstream media, i don't psu, i call it like.

I see it. I see it based on my calculations, probably around end of august, beginning of september, there's going to be a correction based on higher interest rates. It is inevitable, however, i'm not going to try and time the market because i believe, i'm a high conviction investor. So my companies will do well, regardless of interest rates over the long haul.

That's why i'm going gon na be trying to time the market, but if you want to do it, go right ahead? It's just not my type of game and again i could be wrong, because this is just my opinion, which might be inaccurate might be wrong. Might be the ramblings of a madman? This is something you got to research for yourself, find that for yourself, allegedly blah blah mother, effing blah and now it's time for dessert, we're about to experience a healthy dose of yesterday's pizza, slimy and greasy. The ubs chairman is going to talk about their apology to the whole archaic's capital. Can't wait.

Let's play the clip. What happened with our chaos, so ubs is known to be very risk-averse. Why such a loss well uh yeah. This was a very unusual situation.

The client had built a number of very concentrated positions in in very idiosyncratic single stocks, with a number of prime brokers, so huge concentration, and i think the disclosures that you would usually see in a hedge fund, uh, market-based environment for family offices or those that don't Uh administer third-party money are very often not as elaborate and not as driven by by regulators as they should be. So let me just translate what the suit just told you and don't get confused by all these big words idiosyncrasies. All this nonsense he's saying very simple things number one: it's not our fault, it's the regulators. They should have been regulating us better number two.

He did it to other banks, we're not the only ones and number three, it's not our fault, brilliant. What a great apology! Let's keep listening because this will get better. Actually, regulators haven't finished the job of rolling out same activity, same regulation. They somewhat stopped in the middle now.

This is crazy, because here he's not only blaming the regulators, he's basically saying well, we couldn't have known and just to make it clear how ridiculous this argument is. They were the only ones who could have known it's beyond ridiculous, and i think this will be taken up by the sec and other regulators to really enforce more transparency and more knowledge. And if it's not enforced by regulators, we will enforce it. He's basically saying well if the sec doesn't enforce more disclosures, we're going to do it ourselves.

Can i ask you a question why the hell did you do it so far you gave this man a billion dollars. You didn't ask a question: i'm trying to get a 50 000 loan you're gon na put me through the ringer, but you give this dude a billy and don't even ask a question and now you're just saying well, we'll ask it next time: should anyone be stepping Down because of what happened from what i see in the various elements that interacted, i don't see a single failure of a single part of the organization. Oh my goodness, so this lady just asked him. Should somebody get fired for this? I mean people are getting fired for far less and he's basically like nah nobody's at fault here, just structural issues we need to fix.

Everything is a-okay and unfortunately i got ta call on this apology. It's total garbage. I hope ubs actually decide to take responsibility in what they did. They lost a billion.

This guy is sitting there claiming. Well, we had a great quarter. Well, nobody should be getting fired. You guys just lost a billion to one single person and nobody should be fired.

There's nothing wrong. Thank you for sticking with me. So far, apologies if you had to sit through this apology, shout out to the channel members shout out to the patrons we'll see you guys in the next video.