--- title: "Meaning & Key Takeaway of: Everyone has the idea of owning good…" description: "\"Everyone has the idea of owning good companies. The problem is that they have high prices in relations to assets and earnings, and that takes all of th..." image: "https://sms4smile.com/quotes/i/f7b/charlie-munger-458_business_everyone-has-the-idea-of-owning-good-com_2662654.jpg" --- # Everyone has the idea of owning good companies. The… ![“Everyone has the idea of owning good companies. The problem is that they have high prices in relations to assets and earnings, and that takes all of the fun out of the game.” quote by Charlie Munger](https://sms4smile.com/quotes/i/f7b/charlie-munger-458_business_everyone-has-the-idea-of-owning-good-com_2662654.jpg) [Download](https://sms4smile.com/quotes/i/f7b/charlie-munger-458_business_everyone-has-the-idea-of-owning-good-com_2662654.jpg) [Open image](https://sms4smile.com/quotes/i/f7b/charlie-munger-458_business_everyone-has-the-idea-of-owning-good-com_2662654.jpg) > “Everyone has the idea of owning good companies. The problem is that they have high prices in relations to assets and earnings, and that takes all of the fun out of the game.” [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Investors often chase popular stocks without considering valuation, which erodes the enjoyment and profitability of investing. **In simple terms:** Chasing popular stocks at high prices reduces fun and returns. Key Takeaway Focus on value, not hype. Themes investment valuation behavioral finance risk management Mood cautious analytical Type advice financial philosophical When to use this quote - stock selection - portfolio construction - long‑term investing Key Concepts margin of safety intrinsic value market psychology Questions to Reflect On - Are you paying for hype or fundamentals? - How does valuation affect your investment enjoyment? A Different Perspective High prices can mask underlying risk and lead to overpaying. ★ ★ ★ ★ ★ No ratings yet [Business](https://sms4smile.com/quotes/about/business/) [Customer](https://sms4smile.com/quotes/about/customer/) [Fun](https://sms4smile.com/quotes/about/fun/) [Game](https://sms4smile.com/quotes/about/game/) [High prices](https://sms4smile.com/quotes/about/high-prices/) ## Related quotes > [I've done 80 books and if anyone has entertained the idea of owning one of my books, I think this is the book that…](https://sms4smile.com/quotes/art-wolfe/i-ve-done-80-books-and-if-anyone-has-entertained-the-idea-of-owning/) [Art Wolfe](https://sms4smile.com/quotes/author/art-wolfe/) > [But what I realize, here, now, is that it's not actually making the choice that takes courage. It's facing it afterward. 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