“To make money they didn’t have and didn’t need, they risked what they did have and did need, and that’s foolish. That is just plain foolish.” — Warren Buffett
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In this quote, Warren Buffett is criticizing people who take unnecessary risks to make money that they do not truly need. He is saying that it is foolish for people to gamble assets or resources that they do have and do need (like their savings, retirement funds, or home) in order to pursue profits that are not essential.
By risking what they cannot afford to lose for gains that are not really necessary, Buffett believes people are acting irrationally and putting themselves in a vulnerable position. The key message is that it is imprudent to jeopardize one’s financial security or necessities just for the sake of extra profits that are not really required.