At the University of Florida in 1998, Warren Buffett offered a line that’s still quoted by investors and business leaders alike:
“Time is the friend of the wonderful business, it's the enemy of the lousy business. If you're in a lousy business for a long time, you're going to get a lousy result, even if you buy it cheap. If you're in a wonderful business for a long time, even if you pay a little too much going in, you're going to get a wonderful result.”
