It is way less certain to be a wonderful business in the future. The threat is alternative mediums of information. Every newspaper… — Charlie Munger Copy Share Image
I always tell other people to protect against the downside, and not risk roughing on new ventures, but I never stuck to… — Richard Branson Copy Share Image
So one way to create an attractive risk/reward situation is to limit downside risk severely by investing in situations that have a… — Joel Greenblatt Copy Share Image
![“It is way less certain to be a wonderful business in the future. The threat is alternative mediums of information. Every newspaper is scrambling to parlay their existing advantage into dominance on the Internet. But it is way less sure [that this will occur] than the certainty 20 years ago that…” quote by Charlie Munger](https://sms4smile.com/quotes/img-quotes/8d0/charlie-munger-458_advantage_it-is-way-less-certain-to-be-a-wonderful_59627.jpg)
