Other people doing dumb things

“New things coming along don’t take away the opportunities. Will gives you opportunities is other people doing dumb things.”

“In the 58 years we’ve been running Berkshire, I’d say there has been a great increase in the number of people doing dumb things.”

My favorite moment from the 2023 Berkshire Hathaway Annual Meeting question and answer session between Warren Buffett and Charlie Munger.