Buffett's investment approach is characterized by its straightforwardness, which can be viewed as simple in theory. However, executing this strategy is anything but easy. Valuing major companies like Coca-Cola requires deep expertise developed over many years, and the process is often subjective. This complexity highlights the difficulties involved in identifying valuable investments.
An example of this can be seen when a Berkshire shareholder lamented the scarcity of franchise opportunities akin to...