The commission of the investment sins listed above is not limited to 'the little guy.' Huge institutional investors, viewed as a group, have long underperformed the unsophisticated index-fund investor who simply sits tight for decades. A major reason has been fees: Many institutions pay substantial sums to consultants who, in turn, recommend high-fee managers. And that is a fool's game.
As things are, and as fundamentally they must always be, poetry is not a career, but a mug's game. No honest poet can ever feel quite sure of the permanent value of what he has written: He may have wasted his time and messed up his life for nothing.
I bought a company in the mid-90s called Dexter Shoe and paid $400 million for it. And it went to zero. And I gave about $400 million worth of Berkshire stock, which is probably now worth $400 billion. But I've made lots of dumb decisions. That's part of the game.
The fools standpoint is that all social institutions are games. He sees the whole world as game playing. That's why, when people take their games seriously and take on stern and pious expressions, the fool gets the giggles because he knows that it is all a game.
If I take my whole, passionate, spiritual and physical love to the woman who in return loves me, that is how I serve God. And my hymn and my game of joy is my work.
It's exciting to be with really, really good people. Some people make you feel like you've got to up your game. Working with good people is always good.
We never pay anyone Dane-geld,
No matter how trifling the cost;
For the end of that game is oppression and shame,
And the nation that plays it is lost!
The problem with commodities is that you are betting on what someone else would pay for them in six months. The commodity itself isn't going to do anything for you....it is an entirely different game to buy a lump of something and hope that somebody else pays you more for that lump two years from now than it is to buy something that you expect to produce income for you over time.
If people don't like my style, then I can't do anything about that. I have been like that since I first entered into the game and it hasn't done me bad in the past, so I am not going to change now.