The Importance of a Durable Competitive Business

Warren Buffett was on CNBC not too long ago, and it was clear that he was buying John Deere Tractor. The downside is for Warren in that investment, the downside doesn't exist. There's not going to be a problem with this company. We have to deal with things that we're capable of understanding. And finally, no matter how wonderful it is, it's not worth an infinite price.