korrents

Charlie Munger

@charlie-munger · 1 position · 0 changes of mind

Warren Buffett's business partner and vice chairman of Berkshire Hathaway; also chaired Wesco Financial Corporation from 1984 to 2011, where he wrote its annual letters himself.

Everything they publish, on ppll ↗

Charlie Munger did not write this page.

We collected these quotes from things they published elsewhere, and every quote links to where it was said. They have no account here and have not endorsed this site. Quotes are word for word; the short line under each one is our own restatement, not their wording. Their own site. Is this you? Claim it or ask us to remove it. Or tell us what is wrong here.

  1. Our reading

    Wesco was not just a smaller, equally good version of Berkshire -- each dollar of its book value was plainly worth less, and the gap was widening in Berkshire's favor.

    Their wordsWesco is not an equally-good-but-smaller version of Berkshire Hathaway, better because its small size makes growth easier. Instead, each dollar of book value at Wesco continues plainly to provide much less intrinsic value than a similar dollar of book value at Berkshire Hathaway.

    ↗Wesco Financial Corporation 1997 Letter to Shareholderssafalniveshak.com

    Interesting