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We're guessing at our future opportunity cost. Warrenis guessing that he'll have the opportunity to put capital out at high rates of return, so he's not willing to put it out at less than 10% now. But if we knew interest rates would stay at 1%, we'd change. Our hurdles reflect our estimate of future opportunity costs.

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John Corey Whaley

You ever feel like you know someone so much that they can breathe for you? Like when their chest and your chest rise and fall, they do it together because they have to? That's how it felt. That's how it always felt.

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