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I'm a bull on Berkshire Hathaway. There may be some considerable waiting, but I think there are some good days ahead.

Charlie Munger

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Charlie Munger
Age: 100
Born: 1924
Born: January 1
Business Person
Financier
Investor
Lawyer
Omaha
Nebraska
Charlie Thomas Munger
Charles T. Munger
Charles Thomas Munger
Berkshire
May
Good
Hathaway
Think
Bull
Thinking
Considerable
Bulls
Ahead
Days
Waiting

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Our job is to find a few intelligent things to do, not to keep up with every damn thing in the world.
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A Lesson on Elementary, Worldly Wisdom As It Relates To Investment Management & Business
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Bull markets go to people's heads. If you're a duck on a pond, and it's rising due to a downpour, you start going up in the world. But you think it's you, not the pond.
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It's a rare business that doesn't have a way worse future than it has a past.
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A lot of our respected financial institutions are just casinos in drag.
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Ben Franklin and Samuel Johnson, he credits their wisdom for his success. They were both utterly brilliant men. And powerful communicators. Both have helped me all the way through life. Their lessons are easy to assimilate.
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I think that one should recognize reality even when one doesn't like it indeed, especially when one doesn't like it.
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Stock-picking is like gambling: those who win well, seldom bet, but when they do, they bet heavily.
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It would be easier to screw up American Express than Coke or Gillette, but it's an immensely strong business.
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I've heard that one-half of the students at elite schools want to go into private equity or hedge funds. They want to keep up with their age cohorts at Goldman. This can't possibly end well in terms of meeting these expectations.
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The investment game always involves considering both quality and price, and the trick is to get more quality than you pay for in price. It's just that simple.
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We have the same problem as everyone else: It's very hard to predict the future.
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We may well have a competitive advantage buying decent businesses at decent prices. But they won't be fabulous businesses and fabulous prices. There's too much competition and money out there, with many buyout specialists.
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We want very good leaders who have a lot of power.
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...being an effective teacher is a high calling.
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I see almost no change in the price of the composite product that flows through Costco I don't feel sorry for the people who pay $27 million for an 8,000-square-foot condo in Manhattan. So inflation comes in places.
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Some people seem to think there's no trouble just because it hasn't happened yet. If you jump out the window at the 42nd floor and you're still doing fine as you pass the 27th floor, that doesn't mean you don't have a serious problem. I would want to address the problem right now.
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If you want to understand science, you have to understand math. In business, if you're enumerate, you're going to be a klutz. The good thing about business is that you don't have to know any higher math.
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If the value of a company doesn't just scream out at you, it's too close.
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