02/18/2011 08:53 am ET | Updated May 25, 2011

Warren Buffett's Investing Secret? Great Companies Don't Require Good Management

Warren Buffett, the billionaire chief executive officer of Berkshire Hathaway Inc., said he rates businesses on their ability to raise prices and sometimes doesn't even consider the people in charge.

"The single most important decision in evaluating a business is pricing power," Buffett told the Financial Crisis Inquiry Commission in an interview released by the panel last week.

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