CNN: How can I politely correct people?

One thing I have learned when it comes to correcting people is that you really have to walk on egg shells and don't be surprised if they crack under your feet anyway, no matter how polite and kind you are, addressing the issue.

I suppose it totally depends on who you are talking to; some people benefit by a gentle hint, others prefer a direct approach, and some simply don't like to be corrected at all. In case of the last, you better stay clear from any and all confrontation, unless you are eager to get your head bitten off.

I am not sure in which category Buffett falls, but either Christie knew, or just didn't care. He sure didn't mind telling Buffett to put his money where his mouth was: CNN: Christie to Buffett: Pay up, shut up.

I don't think this direct approach would be considered to be even slightly politely correct. Could it fall under the category of being political correct?