It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price.
Sentiment: POSITIVE
Great companies are built on great products.
It's not just buying the company. Sure, we picked the right companies, and we picked the right management and, most importantly, we've given them the right incentive to perform.
I think that a lot of companies are still amazingly price sensitive.
If all you needed to do is to figure out what company is better than others, everyone would make a lot of money. But that is not the case. They keep raising the prices to the point when the odds change.
Everyone has the idea of owning good companies. The problem is that they have high prices in relations to assets and earnings, and that takes all of the fun out of the game.
Where quality is the thing sought after, the thing of supreme quality is cheap, whatever the price one has to pay for it.
Markets are a good thing, and they are the best way of ensuring we have fairness.
When the product is right, you don't have to be a great marketer.
I think good companies can navigate being public and doing the right things for their customers.
A company's best advantage should be a quality product offered at the right price. That fair competition is what drives innovation.