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Buffett believes in the power of owning businesses with strong pricing power from "summary" of Warren Buffett's Ground Rules by Jeremy C. Miller
Warren Buffett is a firm believer in the importance of owning businesses with strong pricing power. This concept refers to a company's ability to raise prices without losing customers. Buffett understands that businesses with this unique quality have a significant competitive advantage in the market. When a company has strong pricing power, it can increase prices to reflect changes in costs or demand, leading to higher profit margins. This ability is crucial for long-term success and sustainability, as it allows a business to maintain profitability even in challenging economic conditions. Buffett recognizes that businesses with stron...
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