- Dec 28, 2008
- Reaction score
Investing thread this shit!!
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I mean i know in this day and age you youngns/Republicans like to hate on expertise but come on man. Saying my boy WB doesn't know what he's doing is like saying edina doesn't know shit about shoveling cake down his throat.Warren is a genius by garnering a reputation as a great capitalist while his entire investing strategy is to avoid competition. He doesn't really seem to care about competent managment either. Just look at this interview.
Buffett: And basically, the single-most important decision in evaluating a business is pricing power. If you’ve got the power to raise prices without losing business to a competitor, you’ve got a very good business.
Interviewer: What attracted you to the management of Moody’s when you made your initial investments?
Buffett: I knew nothing about the management of Moody’s. I’ve also said many times in reports and elsewhere that when a management with reputation for brilliance gets hooked up with a business with a reputation for bad economics, it’s the reputation of the business that remains intact. If you’ve got a good enough business, if you have a monopoly newspaper, if you have a network television station (I’m talking of the past) you know, your idiot nephew could run it. And if you’ve got a really good business, it doesn’t make any difference.