What is 'premise' here? Buffett noted that Ben Graham said people got into much more trouble with a sound premise than an unsound premise. As an illustration, if I recommended Alaska beachfront property to you, you could dismiss it out of hand as nonsense. If I recommended Florida beachfront property, you might have an interest since the premise is sound. Yet many people have lost their shirts buying Florida land. Does 'sound premise' mean 'well prepared'?
Sep 19, 2018 7:22 AM
Answers · 2
A premise is the basis or assumption for an idea or an argument. In this case, a sound premise refers to the fact that it is sensible to buy beach front property in Florida, where the weather is good, rather than in Alaska, where it is very cold. Premises can also be true or false. I hope that helps! Steve
September 19, 2018
Florida Beachfront which is a sound one rather than that of Alaska Beachfront which is unsound.
September 19, 2018
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