Billions Quote by Charlie Munger

“After nearly making a terrible mistake not buying See's, we've made this mistake many times. We are apparently slow learners. These opportunity costs don't show up on financial statements, but have cost us many billions.”

Charlie Munger

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Almost all good businesses engage in 'pain today, gain tomorrow' activities.

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Some years ago one oil company bought a fertilizer company, and every other major oil company practically ran out and bought a fertilizer company.…

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They [Mc Donalds] take people and give them a first job, which enables them to get a second job. They do a very good…

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What good is envy? It’s the one sin you can’t have any fun at.

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We believe that almost all really good investment records will involve relatively little diversification. The basic idea that it was hard to find good…

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It is way less certain to be a wonderful business in the future. The threat is alternative mediums of information. Every newspaper is scrambling…

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