Won fairly and used wisely - advice about how to get wealthy Buffett would spend all his money on preventing chemical nuclear and biological attacks if he knew how. He thinks it's mainly a governmental problem. But he's way too patriotic and doesn't think the US government has any responsibility for it. He considers this the only real threat to Berkshire's future performance. A Roman Catholic priest once told Munger that when he needed surgery he didn't go around looking for the best Roman Catholic surgeon - Munger's response on whether they consider diversity when hiring None of their mistakes would ever have been prevented by a due diligence checklist. Due diligence just drags out negotiations, and this derails a lot of things. Buffett would rather focus on building trust. People can get petty about a lot of things when it comes to due diligence. He is willing to lose on small points Reinsurance business is going to get worse because of over supply. A lot of people who want to establish a money management business in another jurisdiction find the easiest way is to set up a reinsurance business Asians seem to be the most sycophantic question-askers, like being too eager at church.