Look Around the Poker Table; If You Can’t See the Sucker, You’re It

Warren Buffett? Michael Wolff? Amarillo Slim? Poker Proverb? Whispering Saul? Dear Quote Investigator: There is a quotation I have seen in several books and periodicals aimed at investors. Here is one version: If you have been in a poker game for a while, and you still don’t know who the patsy is, you’re the patsy. …

Go for a Business that Any Idiot Can Run

Warren Buffett? Peter Lynch? Dear Quote Investigator: In 2008 I read an interview with the super-investor Warren Buffett in which he said you should put your money into a company that can be run by an idiot because eventually it will be run by an idiot. But that advice sounded familiar to me. Did someone …

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