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In other words, just because a stock is cheap doesn’t mean it’s a good investment. Buffett would much rather pay a little more for a great business. However, Buffett cautions against paying too much, even for an excellent company:
In other words, just because a stock is cheap doesn't mean it's a good investment. Buffett would much rather pay a little more for a great business. However, Buffett cautions against paying too much, even for an excellent company:
![“When [competitors are] in the shower in the morning, they’re thinking about how they’re going to get ahead of one of their top competitors. Here in the shower, we’re thinking about how we are going to invent something on behalf of a customer.”](https://i0.wp.com/www.thaidramatv.com/wp-content/uploads/2020/11/105119757_jeffandmackenziebezos.jpg "“When [competitors are] in the shower in the morning, they’re thinking about how they’re going to get ahead of one of their top competitors. Here in the shower, we’re thinking about how we are going to invent something on behalf of a customer.”")
