Charles Munger
Charles Munger
Charles Thomas Mungeris an American businessman, lawyer, investor, and philanthropist. He is vice chairman of Berkshire Hathaway, the conglomerate controlled by Warren Buffett; in this capacity, Buffett describes Charlie Munger as “my partner." Munger served as chairman of Wesco Financial Corporation from 1984 through 2011. He is also the chairman of the Daily Journal Corporation, based in Los Angeles, California, and a director of Costco Wholesale Corporation...
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Warren gave a very optimistic prognosis. Some people seem to think there's no trouble just because it hasn't happened yet. If you jump out the window at the 42nd floor and you're still doing fine as you pass the 27th floor, that doesn't mean you don't have a serious problem. I would want to address the problem right now. They'd better face it.
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I would rather throw a viper down my shirtfront than hire a compensation consultant.
activity bad buying came comparable engaged envy era feeding happened higher history paper past percentage pieces present promoting reminds selling trading
The present era has no comparable referent in the past history of capitalism. We have a higher percentage of the intelligentsia engaged in buying and selling pieces of paper and promoting trading activity than in any past era. A lot of what I see now reminds me of Sodom and Gomorrah. You get activity feeding on itself, envy and imitation. It has happened in the past that there came bad consequences.
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I know someone who lives next door to what you would actually call a fairly modest house that just sold for $17 million. There are some very extreme housing price bubbles going on .
decisions file onto throw
We just throw some decisions into the 'too hard' file and go onto others.
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Those two guys are two of the smartest young men in the country, and it's much better to be copied by people that smart.
activist cause idiotic reform
The cause of reform is hurt, not helped, when an activist makes an idiotic suggestion.