“Once you talk about something that’s an asset appreciation investment, ignoring the underlying economics of what you’re lending on, you’re really talking about the bigger-fool game. You’re saying…this is a silly price but there’ll be a bigger fool that comes along. And that actually can be a profitable game for a while. But it’s nothing that bankers should engage in.” –Warren Buffett.
Discover more from Quite a Quote!
Subscribe to get the latest posts sent to your email.
Published by
