CharlieWe have this simple, old-fashioned discipline, which Warren likens to Ted Williams waiting for a fat pitch. I don't know about Warren, but if you said to me, Charlie, you can go into the business of managing money the way other people do, or you're measured against indexes, and you've got consultant choosing consultants that are reviewing you to committees. I would just hate it. I would regard it as being put into shackles. and shackles were the very system was preventing me from delivering value. Warren, how would you feel about that?
WarrenYeah, we wouldn't. We wouldn't do it. We never did do it, as a matter of fact. And one of the initial, when we formed the partnership on May 5th, 1956, I passed out to the seven limited partners of something called the ground rules. And I said, here's what I can do and here's what I can't do. And there's some things I don't know whether I can do or not. or not maybe it was it was fairly short but the idea of setting out to do something that you know you can't do that can't be you know that's got to lead to problems i mean somebody tells me i have to high jump seven feet and we can even move that down to four feet now you know between now and sundown or i'll be shot you know i will go out and buy a bulletproof vest yeah the the general system for money management requires people to pretend the that they can do something that they can't do, and to pretend to like it when they really don't. And I think that's a terrible way to spend your life, but it's very well paid.