I admire Warren Buffett for being a person firmly rooted in ground, in fundamentals. Short-cuts are short-term. Whether you listen to him being interviewed on TV or read his annual letter to his companies' share-holders, you see that his wisdom lies in his simplicity. Below is an excerpt that caught my attention as I was going through his annual letter to Berkshire Hathaway's shareholders in these tough economic times.
"However, I have pledged—to you, the rating agencies and myself—to always run Berkshire with more than ample cash. We never want to count on the kindness of strangers in order to meet tomorrow's obligations. When forced to choose, I will not trade even a night's sleep for the chance of extra profits."
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