56: Buffett On Currencies; What Really Matters; Distribution of Coke in Japan; Munger's Lazy Thinking
"Focus on what's knowable and important."
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Focus on the business!
Warren Buffett must be at least a bit tired of redirecting people to what really matters: businesses. Here he is in 2000 discussing currencies, and how they really don’t matter all that much, especially over the long run. What really matters is how well the business you own does over time. The rest is noise.
It was also interesting to learn about the differences in the distribution of Coca-Cola in Japan.
“Focus on what’s knowable and important.” — Warren Buffett
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Stay rational! —Adam
