From the Blog

Buffett Wisdom – Staying Out of Trouble

Its easier to seek forgiveness than ask permission (EAFP) doesn’t work with financial risks because essentially there is no forgiveness.

In the case of financial risk Buffett summed it up this way.   Its easier to stay out of trouble than get out of trouble.

Or its easier to not take risk and not lose money, than it is to lose money and then get ahead from a lower base.