The Important Thing Is To

As I Have Mentioned Before, We Cannot Make The Same Sort Of Money Out Of Permanent Ownership Of Controlled Businesses That Can Be Made From Buying And Reselling Such Businesses, Or From Skilled Investment In Marketable Securities. Nevertheless, They Offer A Pleasant Long Term Form Of Activity (when Conducted In Conjunction With High Grade, Able People) At Satisfactory Rates Of Return.

Diversification Is Protection Against Ignorance. It Makes Little Sense If You Know What You Are Doing.

The Range Of Derivatives Contracts Is Limited Only By The Imagination Of Man (or Sometimes, So It Seems, Madmen). Say You Want To Write A Contract Speculating On The Number Of Twins To Be Born In Nebraska In 2020. No Problem-at A Price, You Will Easily Find An Obliging Counterparty.

Aig Would Be Doing Fine Today. It Was One Of The Ten Largest Companies In The United States In Terms Of Market Value, Over 200 Billion, The Most Respected Insurer And Everything In The World.

Other Guys Read Playboy. I Read Annual Reports.