I like ..
The market, like the Lord, helps those who help themselves. But, unlike the Lord, the market does not forgive those who know not what they do – Warren Buffett, 1982.
A lot was learned reading these five years of letters. Mr Buffett, as always, also mentions some of his delights, like drinking Cherry cokes, as well as some of his dislikes.
He has a general distrust of investment bankers (“don’t ask the barber whether you need a haircut”.) He heavily criticises academics for teaching the efficient market hypothesis and he dislikes Wall Street and its stockbrokers.
(Seen on Sharenet's Newsletter - Seed invesrtments)
