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Why it’s far better to buy a wonderful company at a fair price than a fair company at a wonderful price

By Inquirer - 9 months ago
In Warren Buffett’s 2024 annual letter to shareholders, he called his partner Charlie Munger (who died last November at the age of 99) the “architect” of the present-day Berkshire Hathaway. This is because in 1965, Charlie Munger advised Buffett to stop buying companies just because they are cheap, but instead focus on buying wonderful businesses

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