Mungerisms

[Spekulatius]

Gems from the Daily Journal Meeting from Tren Griffin (who is well worth a follow on Twitter):

https://twitter.com/trengriffin/status/1228485879397662720?s=21

 

[DooDiligence]

Gems from the Daily Journal Meeting from Tren Griffin (who is well worth a follow on Twitter):

https://twitter.com/trengriffin/status/1228485879397662720?s=21

 

"When I was a meteorologist in World War II, they told me how to draw weather maps and predict the weather. But what I was actually doing is clearing pilots to take flights. I just reversed the problem. I inverted. I said, "Suppose I wanted to kill a lot of pilots." Munger

 

Priceless

[DooDiligence]

I was trying to find info on businesses that BRK may be closing or selling & came across this.

 

“Technological change is destroying daily newspapers in America including the little ones like ours,” Mr Munger told Daily Journal investors. “The revenue goes away and the expenses remain and they’re all dying. Berkshire owns about 100 of them and it doesn’t matter because they’re all going to die. There’s nothing that can be done.”

 

“Think how different television is, [Walter] Cronkite is gone. We have all these clowns on the opinion service lying to us . . . and they’re really good at it,” he added. “The ability to mislead people is greatly underestimated.”

 

www.ft.com/content/03f977e6-4dde-11ea-95a0-43d18ec715f5

 

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Between Jain, Able, Todd & Ted, who do you think would best model Munger?

[Guest longinvestor]

I was trying to find info on businesses that BRK may be closing or selling & came across this.

 

“Technological change is destroying daily newspapers in America including the little ones like ours,” Mr Munger told Daily Journal investors. “The revenue goes away and the expenses remain and they’re all dying. Berkshire owns about 100 of them and it doesn’t matter because they’re all going to die. There’s nothing that can be done.”

 

“Think how different television is, [Walter] Cronkite is gone. We have all these clowns on the opinion service lying to us . . . and they’re really good at it,” he added. “The ability to mislead people is greatly underestimated.”

 

www.ft.com/content/03f977e6-4dde-11ea-95a0-43d18ec715f5

 

---

 

Between Jain, Able, Todd & Ted, who do you think would best model Munger?

 

Munger’s shoes are almost impossible to fill I think. It’s hard to imagine the annual meetings continue in the same fashion that it has for 40 years. But we have archives . Future questions are likely to be repeat from the past.

[DooDiligence]

I was trying to find info on businesses that BRK may be closing or selling & came across this.

 

“Technological change is destroying daily newspapers in America including the little ones like ours,” Mr Munger told Daily Journal investors. “The revenue goes away and the expenses remain and they’re all dying. Berkshire owns about 100 of them and it doesn’t matter because they’re all going to die. There’s nothing that can be done.”

 

“Think how different television is, [Walter] Cronkite is gone. We have all these clowns on the opinion service lying to us . . . and they’re really good at it,” he added. “The ability to mislead people is greatly underestimated.”

 

www.ft.com/content/03f977e6-4dde-11ea-95a0-43d18ec715f5

 

---

 

Between Jain, Able, Todd & Ted, who do you think would best model Munger?

 

Munger’s shoes are almost impossible to fill I think. It’s hard to imagine the annual meetings continue in the same fashion that it has for 40 years. But we have archives . Future questions are likely to be repeat from the past.

 

I was thinking in terms of how many bad decisions he's kept WEB from making by being the devils advocate. I'll bet he had a few choice barbs about airlines which didn't stop the purchases but may have helped create the about face.

 

The flip side of this might be that he cast a shade on opportunities last March.

 

I hope (for better & for worse) there will always be a curmudgeon involved in allocation issues.

[LC]

Jain seems the closest to Munger out of that bunch. Insurance and fixed income investors are sharp, shrewd folks.

[Guest longinvestor]

Jain seems the closest to Munger out of that bunch. Insurance and fixed income investors are sharp, shrewd folks.

 

Think so too. Folks like Tony Nicely could fit the bill, as does Tom Murphy. But they are all old curmudgeons! Maybe minimum age of 80 is the qualification!

[nickenumbers]

“It is remarkable how much long-term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very intelligent.”

— Charlie Munger

 

 

;D  Love that guy.  Thank you Charlie!

[nickenumbers]

I would rather make money playing a piano in a whorehouse than arguing that no cost is incurred when employees are paid in stock options instead of cash. I am not kidding.

 

Charlie Munger

[DooDiligence]

I would rather make money playing a piano in a whorehouse than arguing that no cost is incurred when employees are paid in stock options instead of cash. I am not kidding.

 

Charlie Munger

 

Potential career path for me.