Value Deletion

By Ramesh Akkineni
The ultimate irony of the investment business is that there’s no question that an obstetrician will deliver babies better than the husband or the wife. Or if you take dentists as a whole, they will remove teeth or fill teeth better than if the patients try to do it themselves. But in the investment world, somebody who believes in American business — and who will seek out the lowest way to participate in business and do it consistently — will achieve results that exceed those of investment professionals as a group. It’s the only industry I can think of where the professional’s efforts subtract value from what the layman can do himself. - Warren Buffett

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