warren buffett KI-Stimmen-Generator von 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.

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.

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.

Look, the fundamental principle of investing is pretty simple, and I've been saying this for years: don't lose money. Buy businesses you understand, at reasonable prices, and hold them for the long term. The market will do crazy things, but patience pays off.

Look at these cryptocurrency companies burning through cash. They're paying $3 to make $1, just like the internet companies in 1999. When you see businesses valued at 50 times revenue with no profits, well, I've seen how this story ends.

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.

Look at Apple - we bought our first shares at around $175 billion market cap. Today it's worth well over $2 trillion. That's the power of patience in investing. You don't need to be a genius; you need time and conviction in great businesses.

Look, the fundamental principle of investing is really quite simple. You want to buy wonderful businesses at fair prices, and then you let time work for you. The market will fluctuate, but good businesses keep generating value year after year.