Today I heard some-one say he’d sat, with thousands of other investors at the feet of Warren Buffett and his best friend 
Charlie (there’s something very sweet about their friendship, classic values,works well in the business sense too) to listen to some words of wisdom.
What Warren was discussing and opining on was apparently why and how you recognize a good business and why you’d want to enter into the business as an investor.
Warren suggested that you need to recognize the opportunity clearly. In other words, he said,”if you see a big man coming down the street and you guess he weighs say three hundred pounds, even if he weighs three hundred and fifty pounds, he’s still a big man “
In other words, the picture should be clear. Phil Green of Babcock and Brown explained it as meaning the business you’re looking at should be clear. If it needs too much figuring out, if it’s too complicated it’s probably not worth doing. Sound, sage advice.
The “k.i.s.s.” principle, meaning “keep it simple, stupid!”
Never like name-calling yet I guess if it stops you making costly mistakes it might be alright.
The same lesson applies in “big” business as in any business. If it’s global or local.
Thanks, Warren and Phil. Oh, and of course, Charlie!
