Last week, The Nation ran a “Special Investigation” article on everyone’s favorite capitalist Warren Buffett titled “The Dirty Secret Behind Warren Buffett’s Billions.” The author, David Dayen argues that the secret to Warren Buffett’s success is not his investment skill but his love of monopoly businesses, which earn excessive margins at the expense of customers. [buffett] This view is correct to a certain extent, but it is by no means a secret. Warren Buffett has always made it clear that he is looking for companies that have a business moat, in other words, a competitive advantage that allows them to…
“The Dirty Secret Behind Warren Buffett’s Billions”? Own Great Companies
Sign up now and get our in-depth FREE e-books on famous investors like Klarman, Dalio, Schloss, Munger Rupert is a committed value investor and regularly writes and invests following the principles set out by Benjamin Graham. He is the editor and co-owner of Hidden Value Stocks, a quarterly investment newsletter aimed at institutional investors. Rupert owns shares in Berkshire Hathaway. Rupert holds qualifications from the Chartered Institute For Securities & Investment and the CFA Society of the UK. Rupert covers everything value investing for ValueWalk