Charlie Munger's 3 Categories of Investment: In, Out & Too Tough

40. More Sprinkles of Wisdom – 2017 – DJCO Annual Meeting

Ref:

  1. http://www.cnbc.com/2017/02/15/charlie-munger-just-gave-wells-fargo-a-big-vote-of-confidence.html
  2. http://www.valuewalk.com/2017/02/charlie-munger-djco-2017-remarks/
  1. 1. Wells Fargo had a glitch.
  2. 2. Trump IS Not Wrong On Everything. Just Roll With It
  3. 3. One thing about doing something dumb is that you’re unlikely to do it again.
  4. Valeant Pharmaceuticals was “TOO GOOD TO BE TRUE.” And it was “REALLY INTERESTING HOW MANY HIGH-GRADE PEOPLE THAT TOOK IN”
  5. INDEX FUNDS MAKE LIFE MORE DIFFICULT FOR YOUNG MONEY MANAGERS.
  6. Deep Revision Of US Tax System Is A Good Idea
  7. On China: (i) The Chinese government ‘really tries to help its companies’. (ii) Chinese people ‘actually believe in luck’ (iii) Gambling is a ‘national deficit’ (iv) The Chinese have one problem, they like to gamble. (v) Lifting so many from poverty in China is a big achievement.
  8. I admire the life of a doctor more than I admire the life of a derivatives trader and I hope you do too.
  9. Rationality is a moral duty. If you have the capacity to be reasonable, then you you’re morally obligated to be reasonable. https://www.facebook.com/groups/charliemungersays/