Part of the genius of investing is recognizing a great business that others miss. Warren Buffett has the knack. He invested in newspapers such as The Washington Post and the Buffalo News in the 1970s, when he saw the potential for local monopolies that can raise advertising prices. Buffett saw the brand dominance of Coca-Cola and invested in the beverage giant when it stumbled in the late 1980s.
Tim Heydon is no Warren Buffett. But he had his one golden insight when he and his business school team from James Madison University tackled a project called Shenandoah Growers in the 1990s.
Heydon saw a $1 million Virginia farm growing herbs — as demand for fresh organic produce was exploding. He saw a location that was a 10-minute drive from Interstate 81, allowing access to markets up and down the East Coast.
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