Rebuttal
Buffett, despite his untarnished reputation in mainstream business press, remains rarely cited within traditional academia. A 2004 search of 23,000 papers on economics revealed only 20 references to any publication by Buffett. A significant share of references simply rebutt Buffett's statements or reduce his own success to pure luck and probability theory. William Sharpe (1995) called him "a three-sigma event" (1 in 370), Michael Lewis (1989) a "big winner produced by a random game".
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