Warren Buffett: There Is Only Three Ways A Smart Person Can Go Broke

Over the years Warren Buffett has spoken about the absurdity of borrowing money to buy stocks. Here’s a great short video that encapsulates his thoughts. Our favorite quote from the clip is:

(1:47) – “My partner Charlie says there is only three ways a smart person can go broke: liquor, ladies, and leverage. Now the truth is, the first two he just added because they started with ‘L’ – It’s leverage.”

(Source:CNBC)