Warren Buffett: Smart Investors are like Journalists

“If I didn’t do what I do in my life, I would want to be a journalist. I consider myself a journalist to some extent. I assign myself a story. I say is the Washington Post company worth $22 per share in 1973? It’s my working hypothesis that it is. But then I go and look for the facts. And I try not to be selective about the facts that I use as input. You should always observe that rule about not letting the hypothesis determine the story, (and) you’ve got to learn about accounting, you’ve got to learn about how business works and you can always get smarter. If you do the right kind of job, you will attract the right kind of sources. It’s very important if you want to be a great journalist that you behave like one as you go along and then all the other pieces will fall into place.”

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