Charles is not wrong.
ADA has governance so YOU are in control.
Sadly sometimes when compromise is needed the most it’s not granted.
I hope things turn around.
Charlie Munger: "What makes capitalism work is the fact that if you're an able-bodied young person [and] you refuse to work, you suffer a fair amount of agony."
Charlie Munger on what makes a good business:
“What really makes it work is, the business school term is durable competitive advantage, which is a pretty good term.
You really want an advantage that, nourished without overwhelming skill, will keep working for you for a long, long time.”
And on what to avoid:
“You want to avoid a business which is just so brutally competitive that nobody does well over the long pull.”
Charlie Munger: "I would expect Microsoft and Apple and Alphabet to be strong fifty years from now. Really strong."
"[But] it's hard to predict how your world is going to change [in] 70, 80, 90 years. Just think, they wiped out the shareholders of General Motors, they wiped out the shareholders at Kodak. Who in the hell would have predicted that? Technological change can destroy a lot of people."