Be prepared Quote by Warren Buffett
“I believe the chance of any event causing Berkshire to experience financial problems is essentially zero. We will always be prepared for the thousand-year flood; in fact, if it occurswe will be selling life jackets to the unprepared.”
About This Quote
Source Annual Shareholder Letter, Berkshire Hathaway, 2020
He asserts that catastrophic financial crises are virtually impossible for the company, and they are always ready for extreme scenarios, even profiting from them.
In simple terms: Berkshire is prepared for any disaster, even to profit from it.
Key Takeaway
Stay prepared for unlikely catastrophes.
Themes
risk management
confidence
preparedness
Mood
cautious
optimistic
Type
business
financial
When to use this quote
- investment strategy
- corporate governance
- risk assessment
Key Concepts
financial resilience
scenario planning
Questions to Reflect On
- What would you do if a truly unprecedented event occurred?
- How can companies profit ethically from crises?
A Different Perspective
Overconfidence may overlook rare systemic risks.
