Being crazy Quote by Howard Warren Buffett
“I don't think it would be crazy to have a model or an entity model on the Reconstruction Finance Corp. That goes back to 1932, although it was really implemented in '33 under Jesse Jones, and it invested in mostly banks initially and preferred stock and that sort of thing.”
About This Quote
Source Speech: 2020 talk on financial history, referencing Reconstruction Finance Corp.
He suggests modeling historical financial entities to understand modern policy, citing 1930s examples.
In simple terms: Use past models to inform today’s finance.
Key Takeaway
Study history for better policy.
Themes
history
finance
policy
modeling
Mood
analytical
cautious
Type
historical
strategic
When to use this quote
- academic research
- policy design
- financial regulation
- educational curricula
Key Concepts
economic cycles
government intervention
Questions to Reflect On
- What lessons from the 1930s apply today?
- How to adapt old models?
A Different Perspective
Historical models may not capture current complexities.
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