QI has located four instances of the saying in 1979 and these appear to be the earliest currently known though earlier examples are likely to exist. However, Buffett did not claim that he originated the saying instead, he suggested it was an aphorism used by poker players. As they say in poker, “If you’ve been in the game 30 minutes and you don’t know who the patsy is, you’re the patsy.” Indeed, if you aren’t certain that you understand and can value your business far better than Mr. Market” and indicated that a skilled investor should have knowledge that is superior to that of “Mr. Buffett discussed a metaphorical figure called “Mr. The letter was dated February 29, 1988, and it summarized business activity in 1987. Quote Investigator: Warren Buffett did use a version of this quotation in a letter he sent to the shareholders of his conglomerate Berkshire Hathaway Inc. These words are sometimes labeled an “old saying” and sometimes attributed to the legendary super-investor Warren Buffett. 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. Warren Buffett? Michael Wolff? Amarillo Slim? Poker Proverb? Whispering Saul?ĭear Quote Investigator: There is a quotation I have seen in several books and periodicals aimed at investors.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |