Mar

28

 I was thinking that the single most important factor in the success of a company is the management. That is why it seems Buffett does a big disservice to investors when he tells them he looks for companies that any fool can run. A fool can run any great company into the ground, even with the most pristine of balance sheets and great management can turnaround a company with even the ugliest balance sheet, i.e Apple had 30 days of cash left when Steve Jobs took over in the late 90s. If stocks are for the long term, there is nothing more forward looking then management's vision for innovation and creating customers.


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