Warren Buffet comes clean

The venerable Mr. Buffet has taken a hit this year like everyone else, and according to this article, he  Accepts Blame and Faults Others (NYTimes.com), as he is right to do. Warren Buffett has been a critic of financial derivatives for some time (and with good reason). Sadly, even his criticism was not enough to curtail the use of these weapons of mass financial destruction, as he used to classify them. Perhaps if he had come up with this metaphor sooner, that may have helped:

“Participants seeking to dodge troubles face the same problem as someone seeking to avoid venereal disease,” he wrote. “It’s not just whom you sleep with, but also whom they are sleeping with.”

About these ads

One response to “Warren Buffet comes clean

  1. Great quote. You posts are short and sweet. Definitely bookmarking.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s