Buffettgate Two: An Unenforced "Policy" Isn't a Policy

``Warren Buffett devotes 12 hours a week to playing bridge. After the cards are dealt, players engage in an auction in an attempt to determine the value and number of the cards in each suit held by their partners. Yet Buffett states he did not inquire further about a senior Berkshire Hathaway officer's investment in an acquisition candidate... Warren Buffett may be more diligent when he plays cards than in enforcing the policies he wrote for Berkshire Hathaway. Principles only matter when they are inconvenient. A policy that isn't enforced isn't a policy.''