Wonderful businesses at fair prices
In 1965, Buffet reports, he told Buffett something that few would dare to say: His purchase of Berkshire Hathaway had been "dumb." However, Munger continued by offering constructive guidance on how to correct this mistake—even as he had no role at Berkshire at the time. This is what Buffett recounts him saying:
Now that you control Berkshire, add to it wonderful businesses purchased at fair prices and give up buying fair businesses at wonderful prices. In other words, abandon everything you learned from your hero, Ben Graham. It works but only when practiced at small scale.
Από το κείμενο της Investopedia για τον Charlie Munger. Το θάρρος να σκεφτείς για τον εαυτό σου και να πας κόντρα στα είδωλά σου, ή "αυτό που σε έφερε ως εδώ δε θα σε πάει παρακάτω".