"Warren Buffett m'a dit une fois et c'est l'une des rares fois d'ailleurs qu'il m'a directement conseillé qu'il vaut bien mieux acheter une merveilleuse entreprise à un prix correct qu'une entreprise correcte à un prix merveilleux."

This quote is all about the idea of value in investing. It suggests that it's wiser to invest in a high-quality, well-run company even if it costs a bit more, rather than going for a mediocre company just because it's cheap. Think about it like shopping – would you rather buy a pair of shoes that are well-made and will last for years at a reasonable price or grab a pair that's dirt cheap but falls apart after a few wears? The shoes that last are a better investment in the long run.

Warren Buffett, the guy who gave this advice, is one of the most successful investors ever. He has a knack for spotting great companies and holding on to them for the long haul. This quote reflects his investment philosophy. He focuses on the long-term value rather than chasing quick wins. If you buy stock in a great company, even if it's not the cheapest option, you can enjoy growth and stability over time.

Now, let’s dive into a real-life example. Look at Apple. Back in the early 2000s, Apple’s stock price wasn’t exactly a bargain. Many thought it was overpriced. But those who recognized Apple's potential as a leading innovator and bought in at that "fair price" are likely quite pleased with their decision today. Apple has grown to be one of the most valuable companies in the world, and its stock has soared. In contrast, there were plenty of tech companies around at that time with cheaper stocks, but many of them have faded into obscurity or gone bust.

So, how can you apply this wisdom to your own investing? Start by doing your homework. Look for companies with strong fundamentals – solid leadership, innovative products, and a clear competitive edge. Don’t get swayed by a stock just because it’s on sale. Sometimes there’s a reason it’s cheap! Instead, focus on the potential for long-term growth and profitability. It might feel like you’re paying a bit more upfront, but in the end, it can lead to greater rewards.

Imagine this scenario: You’re at a flea market and spot two watches. One is a classic Rolex, priced reasonably for its brand, and the other is a no-name watch that looks good but is dirt cheap. The Rolex is likely to hold its value, maybe even appreciate over time. It’s built with quality and history. The no-name watch might keep time for a while, but it could also break down on you next week. Which one do you think is the better investment?

In your own life, whether it’s stocks, shoes, or flea market finds, think about the long-term value and quality. It’s easy to get lured by a low price tag, but investing in something that’s built to last and grow can end up saving you money and headaches down the road. Remember, sometimes quality is worth the cost.