“The worst sort of business is one that grows rapidly, requires significant capital to engender the growth, and then earns little or no money.”

—  Warren Buffett

2007 Chairman's Letter http://www.berkshirehathaway.com/letters/2007ltr.pdf
Letters to Shareholders (1957 - 2012)
Context: The worst sort of business is one that grows rapidly, requires significant capital to engender the growth, and then earns little or no money. Think airlines. Here a durable competitive advantage has proven elusive ever since the days of the Wright Brothers. Indeed, if a farsighted capitalist had been present at Kitty Hawk, he would have done his successors a huge favor by shooting Orville down.

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American business magnate, investor, and philanthropist 1930

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