If you don't find a way to make money while you sleep, you will work until you die.
I have pledged - to you, the rating agencies and myself - to always run Berkshire with more than ample cash. We never want to count on the kindness of strangers in order to meet tomorrow's obligations. When forced to choose, I will not trade even a night's sleep for the chance of extra profits.
When forced to choose, I will not trade even a night's sleep for the chance of extra profits.
The financial calculus that Charlie and I employ would never permit our trading a good night's sleep for a shot at a few extra percentage points of return. I've never believed in risking what my friends and family have and need in order to pursue what they don't have and don't need.
You do not adequately protect yourself by being half awake when other are sleeping.
I spend twelve hours a week - a little over 10% of my waking hours - playing the game. Now I am trying to figure out how to get by on less sleep in order to fit in a few more hands.
Derivatives are like sex. It's not who we're sleeping with, it's who they're sleeping with that's the problem.
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