Buffett On How Smart People Go Broke: Important Warning For CEF Investors
Source: SeekingAlpha
2025-01-16 07:05:00 ET
Summary
- Warren Buffett once shared the only ways that smart people go broke.
- We discuss why this provides an important warning to CEF investors.
- We share our investing approach right now.
One of my clients recently asked me what my thoughts were on using margin leverage to juice returns, in particular, to enhance the yield on an investment portfolio. When I was thinking about my response, Warren Buffett's sage wisdom came to mind when he once warned there are only three ways that a smart person can go broke: liquor, ladies, and leverage. He went on to remark that:
you really do not need leverage in this world much. If you are smart, you are going to make a lot of money without borrowing.
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Buffett On How Smart People Go Broke: Important Warning For CEF Investors
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