What Turned Warren Buffett Into a Car Guy? Economics

Warren Buffett in Detroit on Sept. 18 Photograph by Jeff Kowalsky/Bloomberg

Warren Buffett has always said he likes industries that come with moats, so-called barriers to entry that keep competitors at bay. In buying a chain of car dealerships, Buffett’s Berkshire Hathaway sees plenty of moats and a clear path to consolidation.

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