Quote for the Week
If you can get into a great company, stay in for a long time. That’s the easiest and biggest money you’ll possibly make. But it’s so hard to do, because they bid the great companies, or things that look like great companies, up so high that it makes that strategy not work… So that’s the trouble, is that they sell so high priced that they make it hard for you to get. But wouldn’t you expect that? Why would you expect that something everybody can see is a great company, of course they’re going to bid the price up so high that maybe it’s not such a good investment. — Charlie Munger (Source)
From the Archives
Last Call
- Marks Memo: The Impact of Debt – Oaktree
- Fool’s Errand – The Better Letter
- 30 Useful Concepts – The Prism
- Todd Combs: Charlie Munger’s Legacy (podcast) – Value Investing w/ Legends (transcript)
- How to Find a Partner like Charlie Munger – Alchemy of Money
- Charlie Munger and How Not to Invest – Morningstar
- Quality or Value – Why Not Both? – Verdad
- Where Did All the Stocks Go? – Sherwood
- Why Steve Wozniak Dismissed PCs and Steve Jobs Didn’t – Pessimists Archive