In part 6 of The Strange World of Econ's series on investment advice from legendary investor Warren Buffett, we will be taking a look at how Warren Buffett assesses the investment risk of a particular investment.

Warren Buffett doesn't use the popular academic definition of investment risk — beta — but prefers a more fuzzy numbers approach to assessing investment risk. As Warren points out, its better to be approximately right than precisely wrong.

Watch as we receive a crash course in investment risk from Warren Buffett

свернуть