TAO OF WARREN BUFFET #7

It is easier to stay out of trouble than it is to get out of trouble.
It is easier to stay out of trouble than it is to get out of trouble.

It is easier to stay out of trouble than it is to get out of trouble.

It is far easier easier to avoid the temptation of breaking the law to make easy money than it is to deal with the consequences if you get caught.To stay out of trouble ,just do the right thing at the right time.To get out of trouble ,you need a lot of money and a lot of legal talent ,and even then you may end up serving a lot of time.

This lesson was driven home when Warren nearly lost his entire $700 million investment in the Wallstreet firm of Salomon brothers.The Federal reserve bank came within inches of shutting down the entire firm for its illegal bonding trading activities which were committed by the trader trying to make a quick buck.What did it cost to get out of trouble? The jobs of several of the firms top traders, the jobs of its chairman and CEO, and millions in legal fees , fines,lawsuits, and lost business.It would have been a lot easier, and far more profitable,to have stayed out of trouble from the start.

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