Biz Quote: Invest in business any fool can run


See if you can really explain the meaning of this quote:

“Invest in a business any fool can run, because someday a fool will. If it won’t stand a little mismanagement, it’s not much of a business. We’re not looking for mismanagement, even if we can withstand it.”

Source: Berkshire Hathaway 2009 meeting via Buffett FAQ

Charlie Munger.

Charlie Munger dropped out of college, served as a meteorologist in the US Army Air Corps, and graduated from Harvard Law. Later, he met Buffet.