The Rarest Warren Buffett Quotes

I went through my case files recently covering the business lessons that I learned from Warren Buffett, and I translated from my list some of the quotes that I found the most instructive. I gave special emphasis on the quality of the insight and the uniqueness of the quote:

  1. Buffett, on successful investing in general: “The key to investing is not assessing how much an industry is going to affect society, or how much it will grow, but rather determining the competitive advantage of any given company and, above all, the durability of that advantage. The products or services that have wide, sustainable moats around them are the ones that deliver rewards to investors.”


  1. On the temptation to invest in poor businesses at a cheap price, Buffett stated in his 1972 letter: “Your chairman made the decision a few years ago to purchase Waumbac Mills in Manchester, New Hampshire,
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