The Importance of Mental Flexibility

Buffett didn't know, obviously that terrorists were going to bomb or, you know, blow up the world trade center. But he was worried about it and the aggregation of risk there. He told whoever at the time was running General Re that he wanted those contracts wound down,. Not resigned. Like I want to get out of this. We're not getting paid enough for it. A Jeep followed the orders. Whoever it was, it generally did not. They ended up on the hook for, I think it was a couple of billion dollars of losses there.

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