
What You Can Learn from How Warren Buffett's Investment Process Evolved - gmishuris
https://www.forbes.com/sites/garymishuris/2018/12/07/what-you-can-learn-from-how-warren-buffetts-investment-process-evolved/
======
afrodc_
Interesting article. Thanks for sharing.

> Buffett considered it exceptionally rare for a business with a strong
> competitive advantage and the resulting high return on capital to be able to
> redeploy capital back into the business at similar rates of return. If such
> a business could be found it would be the perfect business: strong
> competitive advantage with accompanying high returns on invested capital,
> high returns on incremental capital that can be redeployed back into the
> business, and a large amount of capital that can thus be redeployed over
> time. The result would be a compounder – a business that could both generate
> sustainably high returns and grow at above-average rates for a long time.

In the article they mention Geico as a good investment, which it was, but we
could extend the same sentiment to his heavy purchase of Apple securities as
of late. Apple has a lot of cash on hand, ready yo be put back into the
company for further growth, as well as incredible profit margins and a huge
"moat" in the brand name.

