Munger’s Gems (copied from Money control article) Few of the gems are
Munger’s take on lowering expectations: “That’s how I got married. My wife lowered her expectations.”
If people weren’t so often wrong, we wouldn’t be so rich Warren!
There is no better teacher than history in determining the future… There are answers worth billions of dollars in 30$ history books.
We both (Charlie Munger and Warren Buffett) insist on a lot of time being available almost every day to just sit and think. That is very uncommon in American business. We read and think.
Warren reminds me that once I asked a man who had just left a large investment bank, How does your firm make its money? ’ He said, Off the top, off the bottom, off both sides, and in the middle.’’