Charlie Munger has died

Post by davidivadavid » Wed, Nov 29, 2023, 1:42 AM UTC

kypro wrote: post #122

davidivadavid wrote: post #97

Earlier quoted context omitted.

That tells you about as much as you need to know about the guy, doesn't it? Incredibly successful, and yet a penny pinching tasteless bore until the bitter end. At least "robber barons" of the past built things that looked good. That he's worshiped around these parts of the internet is truly embarrassing and sometimes makes me question how I ended up here.

I actually agreed with his reasoning on this and don't think it was motivated by greed at all. Firstly it would have been cheaper for the students. But secondly and more importantly, the buildings did have windows, it was only the dorms themselves which didn't, but the reasoning for this was that were primarily built for sleeping so he argued they didn't need windows. And not requiring windows meant that each student…

Post by kshahkshah » Wed, Nov 29, 2023, 1:44 AM UTC

martin82 wrote: post #196

RayVR wrote: post #157

One of my favorite quotes from Munger > It’s very important to not put your brain in chains too young by what you shout out. From his speech at Harvard in '95, he's talking about how loudly proclaiming something, shouting about it even, locks our brains into this, making us resistant to contradictory ideas, regardless of evidence. This observation has felt more and more important over the last decade.

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Post by westurner » Wed, Nov 29, 2023, 1:49 AM UTC

sokoloff wrote: post #66

truculent wrote: post #54

Earlier quoted context omitted.

Value investing is “an investment paradigm that involves investing in stocks that are overlooked by the market and are being traded below their true worth”. Correct me if wrong, but I don’t think index funds come under that paradigm.

It depends on how the index is constructed. A market cap index cannot be value investing. A market sector index is almost surely not value investing (unless that entire sector is undervalued). An index constructed specifically using value measures as the criteria for inclusion can be (at least arguably so). Click on "value indexes" here: https://www.crsp.org/indexes/ to see some underlying value indexes, and funds li…

Post by al_borland » Wed, Nov 29, 2023, 1:50 AM UTC

martin82 wrote: post #196

RayVR wrote: post #157

One of my favorite quotes from Munger > It’s very important to not put your brain in chains too young by what you shout out. From his speech at Harvard in '95, he's talking about how loudly proclaiming something, shouting about it even, locks our brains into this, making us resistant to contradictory ideas, regardless of evidence. This observation has felt more and more important over the last decade.

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Post by DontchaKnowit » Wed, Nov 29, 2023, 1:51 AM UTC

pryelluw wrote: post #108

boeingUH60 wrote: post #25

Whenever I want to give an example about American capitalism...I always look to Buffett and Munger as examples. These are people who invested and created long-term value for shareholders, building up economies along the way. The antithesis of crypto bros selling tulip bubbles and some tech companies selling overpriced stocks based on hype. We need more Mungers in the world as the current gen die of old age.

I guess you haven’t read much on their history with blue chip stamps : https://en.m.wikipedia.org/wiki/Blue_Chip_Stamps Not directly comparable to crypto but an alternate method of investment.