The Little Book That Builds Wealth - Chapter10

As per the author, the management matters less than what we think.  It is always better to bet on the horse than the Jockey.  This seems to be in line with what Buffet said 'When a management team with a reputation for brilliance tackles a business with a reputation for bad economics, it is the reputation of the business that remains intact.'


Another one of Buffets quote that comes to my mind is 'Buy a business that any idiot can run because eventually an idiot will run it'.

This chapter makes a lot of sense because just betting on someone in management is thinking very short term.  The person could fail or may leave the company and we may end up with a bad investment.  If the business is fundamentally strong and has a very strong  moat, it will do good even if an average honest manager runs it.