Friday, May 8, 2009

Three Lessons from Buffet

The "Get Rich Slowly" blog has a nice article on some prognostications from Warren Buffet. It's standard Buffet fare but worth a glance over. Of course Buffet and Munger do go off a little bit on "geeks bearing formulas"

Buffett: False precision leads to Long Term Capital Management. It only happens to people with high IQs. Those of you with an IQ of 120 are safe.

Munger: Some of the worst business decisions I’ve ever seen are the consequence of complex calculations and projections. They do that in business schools because, well, they have to do something.