Veckans Buffett

Well, I always start from a position of fear. And then when I see something that looks attractive, I start getting greedy. So--but I'm always looking at the downside on something first. I mean, if you can't lose money, you're going to make money. And we--one reason we've done reasonably well, and this really goes back to when I was age 20 and learned from Graham, because my first 10 years were the best, is we've never lost a lot of money as a percentage of our net worth. I mean, and--in terms of permanent loss. Now, things may go down 50 percent. Berkshire's stock has gone down 50 percent four times in the time that I've owned it. But in terms of permanent loss, we've never--we've had plenty of losses, but they've never been the kind that really are destructive. And I always look at the downside first in anything.