“If the business is good enough, it will carry a lousy manager. And the converse case, where a really good manager gets in a really lousy business, he’ll ordinarily have a very imperfect record. In other words, it’s a rare person that can take over a textile business, totally doomed—which is what Warren [Buffett] did in his youthful folly— and turn it into what’s happened here. You should not be looking for other Warrens on the theory they’re under every bush.”
—Charlie Munger.
