By Mark Ford With a net worth of $83 billion, Warren Buffett is the fourth-richest man in America.
Most people know Buffett as a great investor.
Why? Early in his investing career, he realized that there were certain businesses that had strategic advantages – advantages that allowed them to continue to grow bigger every decade, crushing their competition over time. He figured that if he could buy those businesses when the price was right, the market would guarantee him huge, long-term profits.
And that’s exactly what he did.
Berkshire Hathaway, the company Buffett took control of in 1965 to buy such companies, has produced an average 20.3% …read more
