The Brilliance of Stupidity Avoided
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