Money and Finance
- Charlie Munger Quote
Via my 2009 interview with Peter Bevelin:“We use a lot of experience and do it [investment returns] in our heads. We don’t like complexity and we distrust other systems and think it many times leads to false confidence. The harder you work, the more...
- A 13% Hurdle...
Just an interesting couple of comments mentioning the 13% hurdle number which I hadn’t noticed together until recently. In Poor Charlie's Almanack, I think there was also a comment from Munger along the lines that Berkshire's one big, 'hedgehog'...
- 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 Inflation And Interest Rates
Via Whitney Tilson’s notes from the 2006 Wesco Annual Meeting:I have never believed that interest rates have a perfect correlation to inflation. I think there’s some relation, but it’s complex and not easily quantifiable.………………. And,...
- 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...
Money and Finance
Charlie Munger on the return hurdle at Berkshire...
Via Whitney Tilson’s notes from the 2006 Wesco Annual Meeting:
We don’t do a lot of involved math with schedules of investments. Certainly we expect a decent return or we don’t do it. We use a lot of experience and do it in our heads. We distrust others’ systems [and complex models] and think it leads to false confidence. The harder you work, the more confidence you get. But you may be working hard on something you’re no good at. We’re so afraid of that process that we don’t do it.
- Charlie Munger Quote
Via my 2009 interview with Peter Bevelin:“We use a lot of experience and do it [investment returns] in our heads. We don’t like complexity and we distrust other systems and think it many times leads to false confidence. The harder you work, the more...
- A 13% Hurdle...
Just an interesting couple of comments mentioning the 13% hurdle number which I hadn’t noticed together until recently. In Poor Charlie's Almanack, I think there was also a comment from Munger along the lines that Berkshire's one big, 'hedgehog'...
- 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 Inflation And Interest Rates
Via Whitney Tilson’s notes from the 2006 Wesco Annual Meeting:I have never believed that interest rates have a perfect correlation to inflation. I think there’s some relation, but it’s complex and not easily quantifiable.………………. And,...
- 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...