The Lesson Of Buffett Was: To Succeed

My Client Loved Risk. Risk, I Had Learned, Was A Commodity In Itself. Risk Could Be Canned And Sold Like Tomatoes.

People Don't Like Uncertainty, And Their Minds Are Tools For Making Sense Of The World, Even When The World Is Senseless.

All That Was Clear That The Profits To Be Had From Smart People Making Complicated Bets Overwhelmed Anything That Could Be Had From Servicing Customers, Or Allocating Capital To Productive Enterprise.

In Their Leaders, Advisers, And Experts, People Much Prefer Overconfidence, Total Certainty, To Any Kind Of Doubt.

Some Coaches Believed They Could Judge A Player's Performance Simply By Watching It. In This They Were Deeply Mistaken. The Naked Eye Was An Inadequate Tool For Learning What You Needed To Know To Evaluate Baseball Players And Baseball Games. Think About It. One Absolutely Cannot Tell, By Watching, The Difference Between A .300 Hitter And A .275 Hitter. The Difference Is One Hit Every Two Weeks. The Difference Between A Good Hitter And An Average Hitter Is Simply Not Visible-it Is A Matter Of Record