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The range of derivatives contracts is limited only by the imagination of man (or sometimes, so it seems, madmen). Say you want to write a contract speculating on the number of twins to be born in Nebraska in 2020. No problem-at a price, you will easily find an obliging counterparty.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Write
Range
Nebraska
Seems
Price
Derivatives
Problem
Easily
Madmen
Find
Number
Contract
Sometimes
Numbers
Twins
Writing
Imagination
Contracts
Men
Born
Finance
Obliging
Business
Limited
Speculating

More quotes by Warren Buffett

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You’d get very rich if you thought of yourself as having a card with only twenty punches in a lifetime, and every financial decision used up one punch. You’d resist the temptation to dabble. You’d make more good decisions and you’d make more big decisions.
Warren Buffett
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The best asset is your own self. You can become to an enormous degree the person you want to be
Warren Buffett
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You don't need to be an expert in order to achieve satisfactory investment returns. But if you aren't, you must recognize your limitations and follow a course certain to work reasonably well. Keep things simple and don't swing for the fences.
Warren Buffett
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Take the job you would take if you were independently wealthy. You're going to do well at it.
Warren Buffett
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Stocks of companies selling commodity-like products should come with a warning label: Competition may prove hazardous to human wealth.
Warren Buffett
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We need to throw the resources at this that are necessary. But like I say, we are not spending money. I mean, if we buy these assets intelligently, the United States Treasury will make money. I mean, it's borrowing money. It's just a few percent a year.
Warren Buffett
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In the world of business, the people who are most successful are those who are doing what they love.
Warren Buffett
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What the wise do in the beginning, fools do in the end.
Warren Buffett
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A single year's performance is of minor importance and, good or bad, should never be taken seriously.
Warren Buffett
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Energy deregulation will be the largest transfer of wealth in history.
Warren Buffett
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If you buy the things you don't need, you will soon be selling the things that you need.
Warren Buffett
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The purpose of life is to be loved by as many people as possible among those you want to have love you
Warren Buffett
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It's easier to create money than to spend it.
Warren Buffett
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We've actually been pretty good on exports. I mean we are exporting 12% of our GDP now roughly.
Warren Buffett
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Good big decisions do not take time at all, if they do you are in trouble.
Warren Buffett
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Look for 3 things in a person. Intelligence, Energy, & Integrity. If they don't have the last one, don't even bother with the first two.
Warren Buffett
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The most common cause of low prices is pessimism - sometimes pervasive, sometimes specific to a company or industry. We want to do business in such an environment, not because we like pessimism but because we like the prices it produces.
Warren Buffett
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Risk can be greatly reduced by concentrating on only a few holdings.
Warren Buffett
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Very successful people say no to almost everything.
Warren Buffett
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If you own a wonderful business...the best thing to do is keep it. All you're going to do is trade your wonderful business for a whole bunch of cash, which isn't as good as the business, and you got the problem of investing in other businesses, and you probably paid a tax in between. So my advice to anybody who owns a wonderful business is keep it.
Warren Buffett