Warren Buffett explains the problem with one of his favorite rules for investing

Charlie Munger and Warren Buffett have often argued that it's smart to "invest in a business any fool can run, because someday a fool will."
Or, as Buffett explained it in more detail back in 2010 in an interview with the FCIC:
"If you've got a good enough business, if you have a monopoly newspaper, if you have a network television station — I'm talking of the past — you know, your idiot nephew could run it. And if you've got a really good business, it doesn't make any differenc