Highlights from the 2019 Berkshire Hathaway Shareholders Meeting
Highlight: Munger: "If you want one mantra, it comes from Lee Kuan Yew. ... Figure out what works and do it. You just go at life with that simple philosophy from your own national group, you’ll find it works wonderfully well. Figure out what works and do it."
CW8888:
Why is this quote from Charlie Munger on "Figure out what works and do it " also applicable to our long term investing?
After one or two market cycles of either Bull-Bear-Bull or Bear-Bull-Bear; we have to figure out what works for us and do it again for the next market cycle.
What we read and hear from elsewhere is always other people's investing experience. It may serve as reference or guide our future investing strategies; but we still have to figure what works for us and do it.
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Munger is huge fan of S'pore. Another interview just a few hours ago where he praised S'pore for "zero debts".
ReplyDelete12min highlights of Munger interview 6 May 2019
He also reiterated "what the hell's wrong" with sitting on billions of cash. Haha.