“… an idiot could lead.”

“I’m looking for companies which an idiot could lead.” Warren Buffett. May 2015.

Buffett is an American investor, businessman and philanthropist. With an estimated $72.7 billion he is estimated to be the third-wealthiest person in the world.

The majority of that wealth is in Berkshire-Hathaway, the investment firm he founded and leads. Stocks in Berkshire are the most expensive in the world.

His formula for successful investing: He looks to buy stocks in companies that are so successful that an idiot could run them. For sooner or later one will. Buffett has a few basic rules. One is investing in companies whose business model is immediately and intuitively understood.