You shouldn't have asked," I said. "Love doesn't ask many questions, because if we stop to think we become fearful. It's an inexplicable fear; it's difficult even to describe it. Maybe it's the fear of being scorned, of not being accepted, or of breaking the spell. It's ridiculous, but that's the way it is. That's why you don't ask-you act. As you've said many times, you have to take risks.
I do have confidence that we're gonna be able to get it right. But it's not gonna be overnight. And there's no silver bullets to this. The fact of the matter is, is that we are suffering from a massive hangover from a binge of risk taking.
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.
Mark, therefore, the ordinary theory of practical religion, what it leads to. Charity is great, but the moment you say it is all, you run the risk of running into materialism. It is not religion. It is no better than atheism - a little less.