I'll tell you why I like the cigarette business. ... It costs a penny to make. Sell it for a dollar. It's addictive. And there's fantastic brand loya… - Warren Buffett

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I'll tell you why I like the cigarette business. ... It costs a penny to make. Sell it for a dollar. It's addictive. And there's fantastic brand loyalty.

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About Warren Buffett

Warren Edward Buffett (born 30 August 1930) is an American business magnate, investor, and philanthropist. He is currently the chairman and CEO of Berkshire Hathaway. He is one of the most successful investors in the world and has a net worth of over $113 billion as of June 2022, making him the world's fifth-wealthiest person.

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Also Known As

Also Known As: The Oracle of Omaha
Alternative Names: Warren Edward Buffett
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What the human being is best at doing is interpreting all new information so that their prior conclusions remain intact.
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The most common cause of low prices is pessimism — some times pervasive, some times specific to a company or industry. We want to do business in such an environment, not because we like pessimism but because we like the prices it produces. It's optimism that is the enemy of the rational buyer.
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