models
Thoughts

Charlie Munger

“There is no reason, also, to look only for living models. The eminent dead are, in the nature of things, some of the best models around. And, if a model is all you want, you’re really better off not limiting yourself to the living. Some of the very best models have been dead for a […]

Charlie Munger
Thoughts

Charlie Munger

“I think it’s the nature of things that some businesses die. It’s also in the nature of things that, in some cases, you shouldn’t fight it. There is no logical answer, in some cases, except to wring the money out and go elsewhere.” –Charlie Munger Please follow and like us:0

Charlie Munger
Thoughts

Charlie Munger

 I never took a business class, except accounting. When I was a boy, there was a man who came to the club every day at 10:30am. I asked my dad about him – he had such a good life! My Dad said, “He gathers up and renders dead horses.” I learned from that. Many businesses […]

Mistakes
Article

Charlie Munger on Mistakes

Biggest mistakes Munger: “The most extreme mistakes in Berkshire’s history have been mistakes of omission. We saw it, but didn’t act on it. They’re huge mistakes — we’ve lost billions. And we keep doing it. We’re getting better at it. We never get over it.” “There are two types of mistakes: 1) doing nothing; what […]

charlie munger
Thoughts

Charlie Munger

“Forgetting your mistakes is a terrible error if you are trying to improve your cognition. Reality doesn’t remind you. Why not celebrate stupidities in both categories.” Please follow and like us:0

Charlie Munger
Thoughts

Charlie Munger

“Some of the worst business decisions I’ve ever seen are those that are done with a lot of formal projections and discounts back…. The trouble is that you get to believe the figures. And it seems that the higher mathematics, with more false precision, should help you. But it doesn’t. The effects, averaged out, are […]