Thursday, June 17, 2010

From the Oracle of Omaha

"My luck was accentuated by my living in a market system that sometimes produces distorted results, though it overall serves our country well.  I've worked in an economy that rewards someone who saves the lives of others on a battlefield with a medal, rewards a great teacher with thank-you notes from parents, but rewards those who can detect the mispricing of securities with sums reaching into the billions.  In short, fate's distribution of long straws is wildly capricious."

- Warren Buffett,
in a letter to other billionaires as quoted in a Bloomberg News article on June 17, 2010.

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