DAILY WALL STREET WISDOM · #014
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“I try to buy stock in businesses that are so wonderful that an idiot can run them. Because sooner or later, one will.”
🇺🇸Warren Buffett
CEO, Berkshire Hathaway
WHAT IT MEANS
A truly great business has such strong competitive advantages that it can survive poor management. Buffett looks for durable moats like brand power, network effects, or cost advantages that protect the business regardless of who runs it.
humor