National Indemnity purchase in 15 minutes Warren Buffett is known to make a decision to buy a business in very short period of time. The following is his story of how he bought his first […]
People always want a formula. They go to the Intelligent Investor and think somewhere they are going to find a little formula.
It really doesn’t work that way.
You can’t look around for people to agree with you. You can’t look around for people to even know what you are talking about. You have to think for yourself.
What to look for when determining if a person is honest or not?
You really want to start with a business where you think the economics are good, where they look like a seven-footer, and then you go out with a scuttlebutt approach to possibly reject your original hypothesis. Or maybe you confirm it.