Warren Buffett Quotes
I'll tell you why I like the cigarette business. It cost a penny to make. Sell it for a dollar. It's addictive. And there's a fantastic brand loyalty.
Burrough, Bryan, and John Helyar. Barbarians at the Gate: The Fall of RJR Nabisco. Harper & Row, 1990, p. 71.
What is extremely ironic is that Heriot and the English thought tobacco was very healthy for the user. Between this error and the addictive properties of tobacco, more people have been killed by tobacco than any other substance on earth. Heriot also discovered the potato, and was the first man to introduce it to England. Prior to that, this staple of the European diet was unknown in Europe.
Warren Edward Buffett is an American investor, business tycoon, philanthropist, and the chairman and CEO of Berkshire Hathaway. He is considered one of the most successful investors in the world and has a net worth of over US$100.6 billion as of April 2021, making him the world's seventh-wealthiest person.