Money and Finance
- Charlie Munger On The Insurance Business And Ethical Limits
Via Whitney Tilson’s notes from the 2007 Wesco Annual Meeting:Views on the insurance business and ethical limits I don’t think the insurance business will be that great for most people in it. I think we will do way better. We have great people....
- Charlie Munger On Destroying Your Best Loved Ideas...
Via Whitney Tilson’s notes from the 2006 Wesco Annual Meeting:The ability to destroy your ideas rapidly instead of slowly when the occasion is right is one of the most valuable things. You have to work hard on it. Ask yourself what are the arguments...
- Charlie Munger On Being An Exemplar
Via Whitney Tilson’s notes from the 2006 Wesco Annual Meeting:I think people have a duty when they rise high in life to be exemplars. A guy who rises high in the Army or becomes a Supreme Court justice is expected to be an exemplar, so why shouldn’t...
- Charlie Munger On His Experience In 1973-1974...
Via Whitney Tilson’s notes from the 2006 Wesco Annual Meeting:That is a very good question. When I operated a partnership, I got hit in 1973 and 1974, which was the worst collapse since the 1930s. So I got hit with a once-in-50-years-type event. It...
- Charlie Munger On Opportunity Cost
Via the Santangel’s Review transcript of Charlie Munger at Harvard-Westlake (January 2010):Berkshire Hathaway is constantly kicking off ideas in about two seconds flat. We know we’ve got opportunity X, which is better than the new opportunity. Why...
Money and Finance
Charlie Munger on opportunity cost…
Via Whitney Tilson’s notes from the 2006 Wesco Annual Meeting:
It doesn’t matter to Warren where the opportunity is. He has no preconceived ideas about whether Berkshire’s money ought to be in this or that. He’s scanning the world trying to get his opportunity cost as high as he can so his individual decisions would be better.
- Charlie Munger On The Insurance Business And Ethical Limits
Via Whitney Tilson’s notes from the 2007 Wesco Annual Meeting:Views on the insurance business and ethical limits I don’t think the insurance business will be that great for most people in it. I think we will do way better. We have great people....
- Charlie Munger On Destroying Your Best Loved Ideas...
Via Whitney Tilson’s notes from the 2006 Wesco Annual Meeting:The ability to destroy your ideas rapidly instead of slowly when the occasion is right is one of the most valuable things. You have to work hard on it. Ask yourself what are the arguments...
- Charlie Munger On Being An Exemplar
Via Whitney Tilson’s notes from the 2006 Wesco Annual Meeting:I think people have a duty when they rise high in life to be exemplars. A guy who rises high in the Army or becomes a Supreme Court justice is expected to be an exemplar, so why shouldn’t...
- Charlie Munger On His Experience In 1973-1974...
Via Whitney Tilson’s notes from the 2006 Wesco Annual Meeting:That is a very good question. When I operated a partnership, I got hit in 1973 and 1974, which was the worst collapse since the 1930s. So I got hit with a once-in-50-years-type event. It...
- Charlie Munger On Opportunity Cost
Via the Santangel’s Review transcript of Charlie Munger at Harvard-Westlake (January 2010):Berkshire Hathaway is constantly kicking off ideas in about two seconds flat. We know we’ve got opportunity X, which is better than the new opportunity. Why...