Risk Can Be Greatly Reduced By Concentrating

I Have Got This Letter Which Actually Goes Out The Day After I Die. It Has Already Been Written. And It Says That: "yesterday I Died". And Then It Says: "that's Bad News For Me, But It's Not Bad News For You, The Shareholders Of Berkshire". And Then I Go On And Explain What Is Going To Happen. I Know That Is One Time When They Will Be Really Interested In Hearing From Me.

Much Success Can Be Attributed To Inactivity. Most Investors Cannot Resist The Temptation To Constantly Buy And Sell.

If Aig Had Tried To Unwind Their Derivatives Books. I Don't Know. It Would Have Hit Every Institution In The World.

You Know, With Your Money And My Brains, I Mean, There's No Telling How Far We'd Go.

The Approach And Strategies Are Very Similar In That You Gather All The Information You Can And Then Keep Adding To That Base Of Information As Things Develop. You Do Whatever The Probabilities Indicated Based On The Knowledge That You Have At That Time, But You Are Always Willing To Modify Your Behaviour Or Your Approach As You Get New Information. In Bridge, You Behave In A Way That Gets The Best From Your Partner. And In Business, You Behave In The Way That Gets The Best From Your Managers And Your Employees.