אליס שרודר בכנס השקעות ערך באוניברסיטת וירג'יניה, נובמבר 2008, מספר על השקעה פרטית שביצע באפט בשנת 1959

The first step in WeB investment process is always to say what are the odds that this business is subject to any kind of catastrophe risk, that could make it fail, and if there is any chance that any significant amount of this capital could be subject to catastrophe risk, he just stops thinking No! and he won't go there, and it's backwards the way most people invest, because most people find an interesting idea, they figure out the math they look at the financials, they do a projection, and at the end they ask themselves "ok, what could go wrong". Well, Warren starts with what could go wrong.

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