The safest way to try to get what you want is to try to deserve what you want. It’s such a simple idea. It’s the golden rule. You want to deliver to the world what you would buy if you were on the other end.” — Charlie MungerFeatured in: Inspirational...
Two lessons come out of Munger’s story. The first is this. The outcome of your first investment can make a big impression on how you view similar investment opportunities that follow it. Gains and losses can have a psychological impact on future investment decisions. William Miller Instrumentsl...
In his last interview with CNBC during his lifetime, Charlie Munger mentioned Berkshire's tips for winning and attributed it to the “Wooden Effect”: The concept was inspired by John Wooden (John Wooden)'s method of rationally allocating game time to the team's best players. Here's what ...
Charlie Munger, Berkshire’s Vice Chairman and my partner, and I expect Berkshire’s normalized earning power per share to increase every year. Actual earnings, of course, will sometimes decline because of periodic weakness in the U.S. economy. In addition, insurance mega-catastrophes or other ...
With operations ranging from consumer goods and major railroads to home construction and fast food, Berkshire Hathaway built its gigantic market footprint around the investing genius of Buffett and longtime partner Charlie Munger. The company also makes large investments without taking full control of ...