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QuestionerDo you ever make bad investment decisions because of your emotions, and what do you do to try to keep that from happening?
WarrenWell, we make bad investment decisions plenty of times. I make more than Charlie, because I like to think it's because I make more decisions, but probably more batting averages worse. But I can't recall any time in the history of Berkshire that we made an understanding that we made an emotional decision have we ever made an emotional decision no that's in business we're talking about yeah no you don't want to be a no emotion person in all of your life but you you definitely want to be a no emotion person in making an investment or business decision that you can argue that but with it we probably I would say that we've made an emotional decision perhaps in when a manager has been with us for some period and we haven't we've we've ignored the fact that perhaps they weren't quite what they were earlier but our businesses are so good that they they've run better sometimes when we know I've talked about Westco for example of the wonderful Louis incentive and it ran on it ran on automatic pilot for a while but I don't think we suffered by it but you're going to argue that if Charlie and I hadn't liked Louis as much as we did we might have spotted it a little bit early but I don't think it made any difference in the results