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Showing posts with the label Charlie Munger
It's the nature of things that most small businesses will never be big businesses. It is the nature of things that most big businesses fall into mediocrity or worse. Most players have to die. ~ Charlie Munger

Charlie Munger

The idea of a margin of safety, a Graham precept, will never be obsolete. The idea of making the market your servant will never be obsolete. The idea of being objective and dispassionate will never be obsolete. ~ Charlie Munger

Charlie Munger

It's not given to human beings to have such talent that they can just know everything about everything all the time. But it is given to human beings who work hard at it - who look and sift the world for a mispriced bet - that they can occasionally find one. ~ Charlie Munger

Charlie Munger

The number one idea is to view a stock as an ownership of the business and to judge the staying quality of the business in terms of its competitive advantage. Look for more value in terms of discounted future cash-flow than you are paying for. Move only when you have an advantage. ~ Charlie Munger

Charlie Munger

We're emphasizing the knowable by predicting how certain people and companies will swim against the current. We're not predicting the fluctuation in the current. ~ Charlie Munger

Charlie Munger

When you locate a bargain, you must ask, 'Why me, God? Why am I the only one who could find this bargain? ~ Charlie Munger

Charlie Munger

Projections should be handled with care - particularly when they're being provided by someone who has an interest in misleading you. ~ Charlie Munger

Charlie Munger

The difference between a good business and a bad business is that good businesses throw up one easy decision after another. The bad businesses throw up painful decisions time after time. ~ Charlie Munger
It takes character to sit there with all that cash and do nothing. I didn't get to where I am by going after mediocre opportunities.~ Charlie Munger
Some people are more teachable than others. This is also true of dogs, however, so take it as you wish. The executive level should be a tough meritocracy. It shouldn't be easy. I look for people I can trust. Hiring people you can't trust is like starting off by dropping a spider in your bosom. ~ Charlie Munger
Your life must focus on the maximization of objectivity. ~ Charlie Munger