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The quality mirage
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The quality mirage

Good companies don’t always make attractive investments. It depends on the price.

Aug 18, 2023
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The quality mirage
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“Mirage” by DALL•E

Warren Buffett reckons, "It's better to buy a wonderful company at a fair price than a fair company at a wonderful price". Not only is this misleading advice, but it's also counter to what he did. When Buffett was young, he bought cheap crappy companies and made 32% a year—delicious returns. But it's difficult for him to move the needl…

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