How to Play the Game You're Going to Win in and Play Outside of That Game

I think it's easy to sort of think you understand retail, and then subsequently find out you don't as we did with the department store in Baltimore. You can say I was outside of my circle of competence when I bought Berkshire Hathaway. Although I bought it really to resell those stock originally. That was a dumb decision, which worked out. The ultimate was Mrs. B at the furniture mart. She told me that she did not want stock in terms of the Berkshire Hathaway deal. It was a splendid decision. And that ability to know when you're playing the game in which you're going to win is a huge asset.