Warren Buffett: We regard that as nonsense

“Prices do amazing things in securities markets. And when they do something that strikes us as amazing in our direction…we will act. But we do not know today what we’re going to be doing tomorrow…. And there’s this business where somebody says, ‘You should have 50 percent of your money in bonds and 35 percent in equities, and 15 —.’ We don’t go through anything like that. I mean, we regard that as nonsense.” –Warren Buffett.