Monday, December 26, 2005

Time and business

But time is the friend of the wonderful businesses; it is the enemy of the lousy businesses. If you are in a lousy business for a long time, you will get a lousy result even if you buy it cheap. If you are in a wonderful business for a long time, even if you pay a little bit too much going in you will get a wonderful result if you stay in a long time.


Excerpt from "Warren Buffett Talk to MBA Students at Florida University 1998"

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