Buffett's Investment Philosophy. That's it. That's the secret formula.

Buffett’s investment philosophy is succinctly summarized in this quote below:

“We select such investments on a long-term basis, weighing the same factors as would be involved in the purchase of 100% of an operating business:

(1) favorable long-term economic characteristics;
(2) competent and honest management;
(3) purchase price attractive when measured against the yardstick of value to a private owner; and
(4) an industry with which we are familiar and whose long-term business characteristics we feel competent to judge.”

That’s it. That’s the basic ‘secret formula’ to Warren Buffett’s $60 billion fortune.

http://www.valuewalk.com/2016/04/107-profound-warren-buffett-quotes-learn-build-wealth/?all=1