An exception worth making. This link has nothing to do with India and the blogger isn’t Indian either. But Warren Buffett has many admirers in India, from soon-to-be investors to market veterans. With the Sensex and Nifty now almost household names, it’s always good to get gyaan from the Oracle of Omaha.

Blogger Dang Le provides a useful transcript of a Q&A session between Buffett and students from the Business Schools of UT Austin and Emory. A lengthy piece, but well worth it, with investment advice like this..

I have 2 views on diversification. If you are a professional and have confidence, then I would advocate lots of concentration. For everyone else, if it’s not your game, participate in total diversification. The economy will do fine over time. Make sure you don’t buy at the wrong price or the wrong time. That’s what most people should do, buy a cheap index fund and slowly dollar cost average into it. If you try to be just a little bit smart, spending an hour a week investing, you’re liable to be really dumb.

..and insights into life like this..

I enjoy what I do, I tap dance to work every day. I work with people I love, doing what I love. The only thing I would pay to get rid of is firing people. I spend my time thinking about the future, not the past. The future is exciting. As Bertrand Russell says, “Success is getting what you want, happiness is wanting what you get.” I won the ovarian lottery the day I was born and so did all of you. We’re all successful, intelligent, educated. To focus on what you don’t have is a terrible mistake. With the gifts all of us have, if you are unhappy, it’s your own fault.

[Hat-tip: Mishti]