I recently read “Warren Buffet Speaks,” a less dense book cataloging the words of wisdom from Warren Buffet. In a section of the book, talking about the ppl that don’t hold Mr.Buffet in high reverence, Micheal Lewis, the author of Liar’s Poker – one of my favorite books, states “The reason [Buffett] is so rich is simply that random games produce big winners”.

Value investing in its pure form, as postulated by Benjamin Graham and perfected by his pupil — Warren Buffet, basically focuses on significnatly lowering or altogether eliminating the randomness/volatility/risk of their expected/desired returns.

Though I agree with Mr. Lewis’s statement that “Random Games Produces Big Winners,” I have to say that it doesn’t apply to Mr. Buffet as there isn’t nothing random about his style of investing, or the games he has chosen to play. He is a prudent investor driven by values, common sense, and unfoolish greed.

Unfoolish is not a valid word, but that shouldn’t prevent it from making sense.

Read this paper to delve deeper.