Posted by Bob on July 30, 2005
In Reply to: On Warren Buffett posted by MM on July 30, 2005
: On Warren Buffett
: Need help on the following comment by Buffett about investing:
: Investing is not like diving where you are graded for the difficulty of what you are attempting to do. "We get paid not for jumping over seven foot bards, but for stepping over one foot bars."
: What does "stepping over one foot bars" mean here?
Think of the high jump event in a track and field meet. Jumping over a 7-foot crossbar is an amazing feat; stepping over a 1-foot bar would be an easy, routine task. Buffett apparently believes fund managers should take care of fundamentals thoroughly, not engage in flashy-but-dangerous high-risk efforts.