Monday, 3 September 2007

"Over time markets will do extraordinary,even bizarre things. A single big mistake could wipe out a long string of successes. We therefore need someone genetically programmed to recognise and avoid serious risks, including those never before encountered. Certain perils that lurk in investment strategies cannot be spotted by use of the models commonly employed by today's financial institutions."

Warren Buffett at his last shareholders' meeting as reported inThe Business - London's first global business magazine.

I like the line " including those never before encountered.

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