"A CEO must not delegate risk control. It’s simply too important. At Berkshire, I both initiate and monitor every derivatives contract on our books, with the exception of operations-related contracts at a few of our subsidiaries… If Berkshire ever gets in trouble, it will be my fault. It will not be because of misjudgments made by a Risk Committee or Chief Risk Officer."
--Warren Buffett, 2010 Berkshire Hathaway Letter to Shareholders
One of the investor rites of spring (as I look out my window at piles of snow....) is the Berkshire Hathaway Letter to Shareholders which showcases Buffett's folksy wisdom on things financial. Forbes has some good excerpts from the latest.
Tuesday, March 2, 2010
Subscribe to:
Posts (Atom)
Posts
