My favourite piece of advice here: | Sometimes, incidentally, it's much easier in these transforming events to figure out the losers. You could have grasped th

My favourite piece of advice here: | Sometimes, incidentally, it's much easier in these transforming events to figure out the losers. You could have grasped the importance of the auto when it came along but still found it hard to pick companies that would make you money. But there was one obvious decision you could have made back then it's better sometimes to turn these things upside down and that was to short horses. Frankly, I'm disappointed that the Buffett family was not short horses through this entire period. And we really had no excuse: Living in Nebraska, we would have found it super-easy to borrow horses and avoid a "short squeeze."