Business Quote by Charlie Munger
“A great business at a fair price is superior to a fair business at a great price.”
About This Quote
Source Book: Poor Charlie's Almanack, 2005
Value investing favors a high‑quality company bought at a reasonable price over a low‑quality company bought cheap.
In simple terms: Good business cheap is better than cheap good business.
Key Takeaway
Prioritize quality before price.
Themes
investing
quality
valuation
Mood
analytical
pragmatic
Type
financial
advice
When to use this quote
- stock selection
- portfolio building
- business acquisition
- financial analysis
Key Concepts
economic theory
risk management
Questions to Reflect On
- Are you evaluating quality or price first?
- What defines a “great” business for you?
A Different Perspective
Cheap prices can mask hidden risks and poor fundamentals.
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