Warren Buffett Quotes
In a commodity business, it's very hard to be smarter than your dumbest competitor.
Topics
Competition
Competitors
Competitive Advantage
Investing
Market Share
Price Competition
Commodity
Brand Loyalty
Business Competition
Commodity Market
Competitive Strategy
Competitor Analysis
Customer Value Proposition
Industry Rivalry
Market Competition
Market Differentiation
Market Dynamics
Market Saturation
Strategic Positioning
Unique Selling Proposition
Smart Strategy
Citations
Buffett, Warren. "Chairman's Letter." Berkshire Hathaway Inc. Annual Report, 1990, p. 5.
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Patents, copyrights, and franchises are but 3 common (and legal) ways of obtaining a onopoly position.See Adam Smith {627790} for a similar thought.
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.