Warren Buffett Quote

We're more comfortable in that kind of business. It means we miss a lot of very big winners. But we wouldn't know how to pick them out anyway. It also means we have very few big losers - and that's quite helpful over time. We're perfectly willing to trade away a big payoff for a certain payoff.

1999 Berkshire Hathaway Annual Meeting, as quoted in "Why Won't Buffett Invest in Tech Stocks?" at Motley Fool (6 March 2000)