At Berkshire, I both initiate and monitor every derivatives contract on our books ... If Berkshire ever gets in trouble, it will be my fault. It will not be because of the misjudgments made by a risk committee or chief risk officer.
[The poet] is endowed to speak for those who do not have the gift of language, or to see for those who - for whatever reasons - are less conscious of what they are living through. It is as though the risks of the poet's existence can be put to some use beyond her own survival.
Any onset of increased investor caution elevates risk premiums and, as a consequence, lowers asset values and promotes the liquidation of the debt that supported higher asset prices, ... This is the reason that history has not dealt kindly with the aftermath of protracted periods of low risk premiums.