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We don’t get paid for activity, just for being right. As to how long we’ll wait, we’ll wait indefinitely. The free market’s the best mechanism ever devised to put resources to their most efficient and productive use. The least I can do is help pay for all that.
You stand at the plate, the pitcher throws you General Motors at 47! There’s no penalty except opportunity lost. The problem when you’re a money manager is that your fans keep yelling, “Swing, you bum! Mary Buffett and David Clark p. It takes 20 years to build a reputation and five minutes to ruin it.