"If you don't find a way to make money while you sleep, you will work until you die."
"No formula in finance tells you that the moat is 28 feet wide and 16 feet deep. That's what drives the academics crazy. They can compute standard deviations and betas, but they can't understand moats."
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Source: Warren Buffett (2009). “Warren Buffett on Business: Principles from the Sage of Omaha”, p.38, John Wiley & Sons
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