Postcards

How the power players do it - by Fortune senior editor at large Patricia Sellers

Power Point: Be a healthy skeptic

April 13, 2009: 7:33 PM ET

"When I call Charlie with an idea, and he says, 'That is really a dumb idea,' that means we should put 100% of our net worth into it. If he says, 'That is the dumbest thing I've ever heard,' then you should put 50% of your net worth into it. Only if he says, 'I'm going to have you committed,' does it mean he really doesn't like the idea."

--Berkshire Hathaway (BRKB) CEO Warren Buffett in Marc Gunther's cover story in the April 27 issue of Fortune. According to Buffett, his investing partner Charlie Munger is a committed skeptic. So when Munger suggested investing in an electric car company called BYD, Buffet figured it had to be a good pick. The story explains why Buffett is banking on this obscure Chinese car company and a CEO who drinks his own battery fluid.--Jessica Shambora

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