By Warren Buffett A couple of fast tests about how good a business is. First question is “how long does the management have to think before they decide to raise prices?” You’re looking at marvelous business when you look in the mirror and say “mirror, mirror on the wall, how much should I charge for […]
Tag: business
Businesses – The Great, the Good and the Gruesome
This article is an excerpt from Warren Buffett’s Letter to Berkshire Shareholders, 1984 Let’s take a look at what kind of businesses turn us on. And while we’re at it, let’s also discuss what we wish to avoid. Charlie and I look for companies that have a) a business we understand; b) favorable long-term economics; […]