Ronit Pereira
@CAronitpereira
CA | Rare Insights Daily | Reading | Unserious | Views Personal
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In 2009, Berkshire Hathaway share was down 50% from it’s peak.
Charlie Munger was asked about how he felt about this. Listen to his Cold Blooded answer 🥶
Reporter: “How worried are you by the 50% decline in the Berkshire Hathaway share?”
Charlie: “Zero. This is the 3rd time that Warren and I have seen our stock holdings fall by 50% or more.”
“In fact, you should react with equanimity to market price decline of 50% or more in your portfolio at-least 2-3 times a century.”
“If you don’t, you’re not fit to be a common shareholder and you deserve the mediocre results you’re going to get. 🔥
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“We invested in Gillette because of its 100 years of dominance in Razors and blades business.”
“Also, every night, hair grows on billions of men’s faces and twice as many on women’s legs. But I try not to think too much about women’s legs at night.” 😂
- Warren Buffett. 2006
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Charlie Munger explains Private Equity and Investment Bankers with an example of a dumb Horse 😂
“Man goes to a Vet complaining about his horse who gets vicious sometimes. The Vet replies: The next time horse behaves well…sell it.”
“That’s how private equity works.”
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