If you're thinking about buying a business...and are wanting to buy a business that's both sexy and exciting -- the kind of business you can brag about at all the parties -- then please listen very carefully. Doing so can save you a lot of time, money and energy.

Listen: People are always asking me about the most exciting businesses I've bought over the past 50 years. Thing is, I don't buy "exciting" businesses.

Why?

Because they simply aren't as profitable and stable as the "boring" ones. In fact, if you took all of the businesses I have owned...and if you were to tell me any one of them was in any way, shape or form "exciting"...I would laugh.

What normally happens when somebody comes up and asks me what I've been buying lately and I tell them about the latest toilet seat manufacturer business or some other boring manufacturing business, they usually give me this,