Some gems from the Buffet interview

[On banks] “They go crazy occasionally on the assets side, and what they do is they start copying what their dumb competitors are doing. […] I don’t know why we keep looking for new ways to lose money when the old ones were working so well. […] If anyone comes to me and says we want to do this because the other guy is doing this then I tell him to go back to square one and come back with a better reason.”

https://www.youtube.com/watch?v=cSU3y0N60XU

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