“We think you should study things like Mrs. B out at the Nebraska Furniture Mart, who takes $500 and turns it, over time, into the largest home furnishing store in the world. There has to be some lessons in things like that. What gives you that kind of a result and that kind of competitive advantage over time? And that is the key to investing. If you can spot that — particularly if you can spot it when others don’t spot it so well — you will do very well. And we focus on that.” —Warren Buffett.
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