مولد صوت AI مجاني Warren buffet من Fish Audio

Think about competitive advantage like a moat around a castle. The wider and deeper that moat, the better protected your business is. Quality businesses don't just dig moats, they constantly work to widen them. That's how you build lasting value.

Look at companies like See's Candies. We bought it for $25 million in 1972. People asked why pay so much for a candy company. But good businesses are like good marriages - you pick well, then you stay committed. Time is the friend of wonderful companies.

Let me tell you why we're looking at Japan right now. The market there is doing something interesting - trading at valuations we haven't seen in decades. When we see companies selling below their intrinsic value, well, that gets our attention at Berkshire.

Investing isn't about the thrill of the trade; it's about the discipline of waiting. Most people chase the noise of the market, hoping for a quick strike. But if you find a wonderful business and let it grow over decades, time becomes your greatest ally in building lasting wealth.

Let me tell you why we're looking at Japan right now. People ask me, "Warren, why invest in Japanese trading houses?" Well, the answer is simple: we're seeing remarkable value there. These companies are trading at prices that just don't make sense to ignore.

You know, I've always said the best investment you can make is in yourself. The skills you develop, the knowledge you gain - those are assets no market crash can take away. It's the one investment that truly compounds over a lifetime.

The real secret is that you do not need to be a genius. You just need more patience than the next person. Investing is not about the noise or flashing screens; it is simply about finding a great business and waiting for time to do the work.

People think that they will get rich by finding the golden goose overnight. That's a mistake that I repeatedly tell everyone. Wealth takes a long times to build up, just like shitting and pissing.