What is 'you can pay too much even for a wonderful business'? Irrational Exuberance Buffett repeated his warning in the annual report that you can pay too much even for a wonderful business and that the overpayment risk is currently quite high. Munger was emphatic, guaranteeing that real inflation-adjusted returns will be lower in the long-term future.
Oct 12, 2018 6:21 AM
Answers · 1
Mr Buffet wants to have a good deal : buy shares in a sound company, but at an attractive price. For example, when the share price is lower than book value per share.
October 12, 2018
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