Warren Buffett could teach traders in dogecoin, GameStop and other hot trends a few things about ‘Mr. Market’

Warren Buffett could teach traders in dogecoin, GameStop and other hot trends a few things about ‘Mr. Market’

As the old joke goes, St. Peter had some bad news for an oil prospector who appeared at the pearly gates of heaven: "You're qualified for admission,“ said St. Peter, "but, as you can see, the section for oil prospectors is packed. There's no way to fit you in.“

After a moment, the prospector asked to say just four words to the present occupants. That seemed harmless to St. Peter, so the prospector yelled, "Oil discovered in hell!“  Immediately, most of the oil prospectors stampeded out for the nether regions. Impressed, St. Peter invited the prospector to move in and get comfortable. The prospector paused, saying "No, I think I'll go along with the rest of them.  There might be some truth to that rumor after all.“

Let that be a warning to CEOs and shareholders. Steering clear of rumors and self-delusion has been one of Warren Buffett's key rules, ingrained into Berkshire Hathaway

BRK.A, +1.75%



BRK.B, +1.61%

shareholders for years. We all need to hear such lessons repeatedly because reality's temptations are always at war with our