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I like books that have razor-sharp plotting that snaps and moves along. It's not about the main character being different at the end. I don't want my main character to be different in the end. I still want him committed to his ideas, to be steadfast, true and loyal

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Charlie Munger

We bought a doomed textile mill [Berkshire Hathaway] and a California S&L [Wesco] just before a calamity. Both were bought at a discount to liquidation value.

Berkshire, California, Liquidation, Mills, Textiles, Value
Same Author Quotes

Show me the incentive and I will show you the outcome

Incentive, Incentives, Outcome, Outcomes, Show, Show Me

Our biggest mistakes, were things we didn't do, companies we didn't buy.

Biggest, Biggest Mistake, Companies, Company, Mistake, Things

Assume life will be really tough, and then ask if you can handle it. If the answer is yes, you've won.

Answer, Answers, Assuming, Handle, Tough, Yes

Move only when you have an advantage. It's very basic. You have to understand the odds and have the discipline to bet only when the odds are in your favor.

Advantage, Discipline, Moving, Odds, Understand

'Crowd folly', the tendency of humans, under some circumstances, to resemble lemmings, explains much foolish thinking of brilliant men and much foolish behavior - like investment management practices of many foundations represented here today. It is sad that today each institutional investor apparently fears most of all that its investment practices will be different from practices of the rest of the crowd.

Different, Men, Practice, Practices, Thinking, Under
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