Charlie Munger

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Last quote by Charlie Munger

Inventories, receivables are all kinds of horrible things in business. If you just buy service companies, you can avoid them. And it's amazing how it has worked for this guy that does [leveraged buyouts] just the way it worked for Al Gore.feedback
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Jun 23 2017
Charlie Munger has been quoted 37 times. The one recent article where Charlie Munger has been quoted is Charlie Munger says Al Gore is ‘not very smart, ’ but became filthy rich using this simple investing formula. Most recently, Charlie Munger was quoted as having said, “Al Gore has come into you fellas business … He has made three or four hundred million dollars in your business. And he's not very smart. He had one obsessive idea that global warming was a terrible thing … So his idea when he went into investment counseling is he was not going to put any CO2 in the air.”.
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Charlie Munger quotes

May 06 2017

You've got to remember railroads were a terrible business for decades and decades and decades, and then they got good.feedback

Mar 13 2017

Acknowledging what you don't know is the dawning of wisdom.feedback

Mar 10 2017

Mimicking the herd invites regression to the mean.feedback

Feb 15 2017 - Oil

I wish we weren't producing all this natural gas. I'd be delighted to just have it lie there untapped for decades in the future and pay extra once Arabs use up their oil. Nobody else in America seems to feel my way, but I believe in deferred gratification. I don't think hastening to use our oil and gas is a good idea ... I don't see any advantage.feedback

Feb 15 2017

The index thing is absolute agony for investment professionals … who have almost no chance of beating it. Most people handle that with denial ... I understand – I don't want to think about my own death, either. It's a huge problem, and it makes your generation of money managers have way more difficulties and causes a lot of worry and fretfulness, and I think the people who are worried and fretful are absolutely right. I would hate to manage a trillion dollars in the big stocks and try to beat the indexes. I don't think I could do it.feedback

Feb 15 2017

Wells Fargo had a glitch. The truth of the matter is they made a business judgment that was wrong. They got so caught up in cross-selling and incentive systems (that) some people reacted badly and did things they shouldn't.feedback

Feb 15 2017

They'll be better for it. One thing about doing something dumb is that you're unlikely to do it again.feedback

Feb 15 2017

I don't think anything's fundamentally wrong in the long haul for Wells Fargo. They made a mistake. And it was an easy mistake to make. I don't regard setting incentives aggressively as a mistake. I think the mistake was, when the bad news came, they didn't recognize it directly.feedback

Jan 12 2017

Warren is not interested in making money by cheating people.feedback

Apr 30 2016

We ought to have a law ... where these people shouldn't be allowed to cite the defects without citing the advantage. It's immature and stupid.feedback

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