CharlieThere have been a couple of things that we knew enough to buy. We're in our circle of competence where we could have bought lots of stock, except it went up a little bit, and then we faded because of the price. But we didn't fade because we didn't want to put more than an X dollars in. If we find an idea that we want to put $500 million in, we probably would be even happier if we could put $3 or $4 billion in. You know, we good ideas are too scary. to be parsimonious with once you find them. Having narrowly averted the mistake of being unwilling to pay up at C's capital, we've gone on and made the same damn mistake several times with respect to marketable securities. We evidently learn very slowly. It costs many, many, many billions of dollars too. Now, those are opportunity cost billions. They don't show up in the financial statements. statements, but the amount of money that's been blown by dumb decisions at headquarters at Berkshire Hathaway is awesome.
WarrenWell said.