Friday, April 6, 2012

Warren Buffett quote

“A…serious problem occurs when the management of a great company gets sidetracked and neglects its wonderful base business while purchasing other businesses that are so-so or worse…Loss of focus is what most worries Charlie and me when we contemplate investing in businesses that in general look outstanding. All too often, we've seen value stagnate in the presence of hubris or of boredom that caused the attention of managers to wander.” –Warren Buffett, 1996 Letter to Shareholders (found via A Few Lessons for Investors and Managers)