“Munger noted that high profits on capital often rely on information inefficiencies.” — Daniel Pecaut Copy Share Image
“Buffett pointed out that when the investment tide goes out, you will see who has been swimming naked.” — Daniel Pecaut Copy Share Image
“If investors only had to study the past, the richest people would be librarians.” — Daniel Pecaut Copy Share Image
“the single biggest outcome of the Internet has been little understood: buyers are the winners.” — Daniel Pecaut Copy Share Image
“average college student has the same standard of living as he does. Same food. No important difference in clothes, cars, TVs.” — Daniel Pecaut Copy Share Image
“Buffett added that there is a big difference between identifying a growth industry and minting money. He noted that AT&T’s return on equity over… — Daniel Pecaut Copy Share Image
“After you have enough for daily life, all that matters is your health and those you love.” — Daniel Pecaut Copy Share Image
“To a question about what books to read, Munger replied that he is a biography nut and heartily recommended biographies as a way to… — Daniel Pecaut Copy Share Image
“the real key is to be able to figure out what the average profitability of the business will be over the long term and… — Daniel Pecaut Copy Share Image
“The right manager can have an absolutely huge impact. Find people with brains, energy and integrity,” — Daniel Pecaut Copy Share Image
“Tom Murphy, CEO of Capital Cities/ABC and considered by Buffett to be the best business manager in the country, prays every day to be… — Daniel Pecaut Copy Share Image
“There are essentially five things public corporations can do with a dollar earned: reinvest in the business, acquire other businesses or assets, pay down… — Daniel Pecaut Copy Share Image
“rather than worry about economic projections, these brilliant investors focus on finding good businesses at bargain prices within our resilient economy. On” — Daniel Pecaut Copy Share Image
