Buffett and Munger Unscripted: Three Decades of Investment and Business Insights from the Berkshire Hathaway Annual Shareholder Meetings

by Alex W. Morris

WB: “There are more problems with having the wrong manager than with having the wrong compensation system. It is enormously important who runs Procter & Gamble, Coca-Cola, or American Express; any compensation sins are generally of minor importance compared to the sin of having somebody that’s mediocre running a huge company.”