I'll Take The Deal, Whatever You Want

I'll Take The Deal, Whatever You Want To Do.

The Worst Sort Of Business Is One That Grows Rapidly, Requires Significant Capital To Engender The Growth, And Then Earns Little Or No Money. Think Airlines. Here A Durable Competitive Advantage Has Proven Elusive Ever Since The Days Of The Wright Brothers. Indeed, If A Farsighted Capitalist Had Been Present At Kitty Hawk, He Would Have Done His Successors A Huge Favor By Shooting Orville Down.

Investors Should Be Skeptical Of History-based Models. Constructed By A Nerdy-sounding Priesthood Using Esoteric Terms Such As Beta, Gamma, Sigma And The Like, These Models Tend To Look Impressive. Too Often, Though, Investors Forget To Examine The Assumptions Behind The Models. Beware Of Geeks Bearing Formulas.

Cash Never Makes Us Happy, But It's Better To Have The Money Burning A Hole In Berkshire's Pocket Than Resting Comfortably In Someone Else's.

It's A Big Mistake To Try And Mislead People. They Will Turn Around.