“We say we are trying to buy into businesses with excellent economics, run by honest and able people at a decent price. We buy very few securities, so we look at it as "focused" investing.” PeopleTryingLooksRunningAbleHonestSecurityEconomicsInvestingFocusedExcellentDecentDiversification Author:Warren Buffett
“We try to buy businesses with good-to-superb underlying economics run by honest and able people and buy them at sensible prices. That's all I'm trying to do.” PeopleTryingRunningAbleHonestEconomicsSensibleSuperb Author:Warren Buffett
“Economists get very uncomfortable when you talk about virtue and vice. It doesn't lend itself to a lot of columns with numbers. But I would argue that there are big virtue effects in economics. I would say that the spreading of double-entry bookkeeping by the Monk, Fra Luce de Pacioli, was a big virtue effect in economics. It made business more controllable, and it made it more honest.” MadeBigsNumbersVirtueEffectsHonestEconomicsVicesArguingMade ItUncomfortableEconomistMonkColumnsEntryBookkeeping Author:Charlie Munger