When I think about the types of companies that Warren Buffett likes to invest in, I’m often reminded of companies with business models that are easy to understand. These types of companies are typically ones that even a sixth-grader can appreciate and comprehend. There is a lot of beauty in the simple, easy-to-understand business models of these types of companies that are less likely to be disrupted by technological innovation. However, just because a business model is easy to understand doesn’t mean that it is immune from economic cycles, as is the case with many