He has repeatedly claimed that his wealth is largely due to his ability to avoid mistakes rather than identify opportunities. While I am somewhat skeptical about Warren Buffett's humble assertion, it is true that avoiding danger and removing harm - i.e. being less stupid - is generally safer than intervention, which may have side effects and unintended consequences. Buffett's partner, Charlie Munger, made the same point in a letter to Wesco Shareholders, where Charlie was Cha

This uncharacteristically older Filipino barista had a smile before I approached her. It was 6:30am on New Year’s day and, like any other Sunday morning, I entered my neighborhood Starbucks for a few hours of undistracted writing. It was clear this upbeat, 60-plus year old barista wasn’t out partying last night, and her attitude suggested she didn’t miss a thing. She processed my order and asked my name for the cup. “Does Mo stand for anything?” she inquired. Being the first