Avoid “Mindless Imitation Of One’s Peers” At All Costs

“Mindless imitation of one’s peers,” is one of the worst things investors and business owners can do according to The Oracle of Omaha. The CEO of Berkshire Hathaway made these comments in 1991, as part of a series of lectures to students at the Notre-Dame University. Buffett presented his audience with a newspaper ad from 1969, offering one million shares of American Motors. Buffett noted that the ad showed 37 investment banks worked on the deal at the time, but in the time since, all of these banks, plus American Motors had disappeared. If you’re looking for value stocks, and…