When Warren Buffett bought one company because of a book, and another on a handshake

Every big deal on Wall Street follows the same ritual. Armies of lawyers and accountants descend on the target. Data rooms are opened, every contract is read, every claim is verified, and the cheque is signed only after months of professional suspicion. The ritual exists because, in business, nobody trusts anybody. And everyone pays for this lack of trust – in terms of fees, in terms of time, and in deals that die on the table.Warren Buffett