Warren Buffett: “You Don’t Get Paid for Activity, You Only Get Paid for Being Right!”

Johnny HopkinsCharles Munger, Warren BuffettLeave a Comment

During the 1998 Berkshire Hathaway Annual Meeting, Warren Buffett explained why investors should focus on being patient and finding the right investment, rather than being active and buying anything that comes along. Here’s an excerpt from the meeting: Buffett: So we won‘t feel we’ve missed anything particularly uh if returns … Read More

Charles Munger: The Cost Cutting Phenomenon

Johnny HopkinsCharles MungerLeave a Comment

In Charles Munger’s famous speech at USC Business School in 1994 entitled A Lesson on Elementary Worldly Wisdom, he discussed the cost cutting phenomenon. Here’s an excerpt from the speech: Munger: In all cases, the people who sell the machinery—and, by and large, even the internal bureaucrats urging you to … Read More

Charles Munger: Great Investing Means Being Aversive To The Standard Stupidities

Johnny HopkinsCharles Munger, Warren BuffettLeave a Comment

During the 2016 Berkshire Hathaway Meeting, Charles Munger explained why great investing means being aversive to standard stupidities. Here’s an excerpt from the meeting: WARREN BUFFETT: But it’s not a very complicated economic equation at Berkshire. People didn’t — for a long time, they didn’t appreciate the value of float. … Read More