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Posted: 14/Mar/2007 at 7:58pm
charlie munger is in fact the reincarnation of benjamin franklin.PATIENCE THE ART OF WAITING WITHOUT TIRING OF WAITING.look at those hedge funds you think they can wait? they dont know how to wait! as jesse livermore said the BIG MONEY IS NOT IN BUYING AND SELLING BUT IN WAITING.
understanding both the power of compound return and the difficulty getting it is the heart and soul of understanding a lot of things
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Posted: 14/Mar/2007 at 8:04pm
Men who can be right and sit tight are uncommon. I found it the hardest thing to learn. But it is only after an investor has firmly grasped this that he can make big money. It is literally true that millions came easier to a trader after he knows how to trade then hundreds came in the days of his ignorance.- Jesse Livermore
'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in
Joined: 13/Oct/2006
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Posted: 14/Mar/2007 at 8:04pm
mungers three great lessons of investing 1-A GREAT BUSINESS AT A FAIR PRICE IS SUPERIOR TO A FAIR BUSINESS AT A GREAT PRICE 2-AGREAT BUSINESS AT A FAIR PRICE IS SUPERIOR TO A FAIR BUSINESS AT A GREAT PRICE 3-AGREAT BUSINESS AT A FAIR PRICE IS SUPERIOR TO A FAIR BUSINESS AT A GREAT PRICE
understanding both the power of compound return and the difficulty getting it is the heart and soul of understanding a lot of things
Joined: 13/Oct/2006
Location: India
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Posts: 3542
Posted: 14/Mar/2007 at 8:09pm
charlie shoved me in the direction of not just buying bargains as ben graham had tought me. this was the real impact charlie had on me.it took a powerful force to move on from grahams limiting views. it was the power of charlies mind.he expanded my horizons-WARREN BUFFET. IN SHORT HE TOUGHT WARREN HOW TO BUY GREAT BUSINESSES.
understanding both the power of compound return and the difficulty getting it is the heart and soul of understanding a lot of things
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Posts: 9319
Posted: 15/Mar/2007 at 12:17pm
"Organized common (or uncommon) sense --very basic knowledge -- is an enormously powerful tool. People calculate too much and think too little."---Charlie Munger
Life can only be understood backwards—but it must be lived forwards
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Posted: 15/Mar/2007 at 8:58am
“The name of the game is continuing to learn. Even if you’re very well trained and have some natural aptitude, you still need to keep learning."---Charlie Munger
Life can only be understood backwards—but it must be lived forwards
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Posted: 16/Mar/2007 at 11:43am
"You need a different checklist and different mental models for different companies. I can never make it easy by saying, 'Here are three things' You have to derive it yourself to ingrain it in your head for the rest of your life."---Charlie Munger on Investing models
Edited by kulman - 16/Mar/2007 at 11:44am
Life can only be understood backwards—but it must be lived forwards
Joined: 02/Sep/2006
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Posted: 17/Mar/2007 at 11:55am
I’ve heard Warren say since very early in his life that the difference between a good business and a bad one is that a good business throws up one easy decision after another, whereas a bad one gives you horrible choices—decisions that are extremely hard to make. For example, it’s not hard for us to decide whether or not we want
to open a See’s store in a new shopping center in California. It’s going to succeed.---Charlie Munger
Life can only be understood backwards—but it must be lived forwards
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