巴菲特說,
In looking for people to hire, you look for three qualities: integrity, intelligence, and energy. And if you don't have the first, the other two will kill you. You think about it; it's true. If you hire somebody without [integrity], you really want them to be dumb and lazy.
選總統選個人品差的,謊言連篇的,說明對integrity不重視,那麽往往買個股時候也不重視CEO的integrity. 結果選個股虧錢。
既然如此,如果不重視領導人人品,不如隻投資指數。這就是Judgement.