Quote Origin: I am so far unable to verify the origin of the quote attributed to Warren Buffet.
However, it is not much different than other quotes he made, like:
“I try to buy stock in businesses that are so wonderful that an idiot can run them. Because sooner or later, one will.“ (as quoted by Chris Dixon)
An idiot with a plan can beat a genius without a plan– Warren Buffett
My Opinion :
Plans are important, and planning is essential to have a general vision. But most often plans do not work, executing plans is a skill few have. And idiot with a plan might not be able to execute the plans. Also in business we all know, that there are a lot of unexpected surprises that require smart solutions, a genius without a plan can find solutions while the idiot with a plan can not. Lats point, the majority of highly successful business people are smart people and geniuses, can’t say the same about idiots with/without plans: