This ties into the Buffet might be evil discussion last week [1]. The short version is, he prefers a company that "takes no capital, and yet grows", as well as

This ties into the Buffet might be evil discussion last week [1]. The short version is, he prefers a company that "takes no capital, and yet grows", as well as having a moat to ward off competition (m-word). I think both are equally evil in this discussion. Basic R&D investment used to be the leader-makers of the US, but now it's scorned by shareholders. [1] http://www.newsmax.com/Finance/StreetTalk/Warren-Buffett-Berkshire-Hathaway-Robin-Harding-investing/2017/09/12/id/813081/ http://www.newsmax.com/Finance/StreetTalk/Warren-Buffett-Ber...