30/11/2023
Charles “Charlie” Munger, a close associate of and vice Chairman of Hathaway, dies with just one month short of 100 years age.
Incredible journey of and investing philosophy. Always fond of quality businesses with the right valuation.
He was witty in talks and famous for his -liners. Some of my top15 favourites one liners are given below. Each line is deep and real words of for the investing world:
1. The big money is not in the buying and selling, but in the waiting
2. We have 3 baskets for investing: Yes, No, and too tough to understand
3. There are 3 ways to go broke: 'Liquor, Ladies and Leverage'
4. Those who keep learning, will keep rising in life.
5. The best armour of old age is a well spent life preceding it
6. The world is not driven by greed. It’s driven by envy
7. There is no better teacher than history in determining the future… There are answers worth billions of dollars in a history book
8. Develop into a lifelong self-learner through voracious reading; cultivate curiosity and strive to become a little wiser every day
9. What are the secret of success?
-one word answer :"rational"
10. Go to bed smarter than when you woke up
11. People calculate too much and think too little
12. Remember that reputation and integrity are your most valuable assets—and can be lost in a heartbeat.
13. All I want to know is where I'm going to die so I'll never go there.
14. In my whole life, I have known no wise people (over a board subject matter area) who didn't read all the time - none, zero. You'd be amazed how much Warren reads - and at how much I read. My children laugh at me. They think I'm a book with a couple of legs sticking out.
15. I think that, every time you see the word EBITDA, you should substitute the words "bu****it earnings
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