It is Madness to Risk Losing what you Need in Pursuing what you Simply Desire

Buried deep (on page 35) in a previous Berkshire Hathaway shareholder letter was a Warren Buffett gem, “It is madness to risk losing what you need in pursuing what you simply desire.” The context around this nugget of wisdom referred to not taking greedy risks for short-term profits with Berkshire Hathaway investments and business offerings. However, this piece of advice applies exceptionally well to personal investments and more broadly to many different areas of life. Lets look at a few. Personal Investments Buffett has given great advice on where amateur investors should...

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