Kevin Carpenter
@kejca
Kingswell || A little uncommon sense from Warren Buffett, Charlie Munger, and other legendary thinkers
59 Following 23.1K Followers
Mohnish Pabrai: "Elon [Musk] is not human. He is beyond human."
"His hiring is so good. When you're hiring a software engineer, they could be an engineer who's worth $10 million a year and they could be another guy worth $100,000 a year — and he can tell the difference."
(h/t @myfirstmilpod)
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Warren Buffett: "Things are always uncertain in the short term. What really is certain is that things that worked over time will continue to work over time."
"The next day is always uncertain. The next hour is always uncertain. [But] the longer term is pretty darn certain."
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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."
Warren Buffett: "We assume that we'll be around forever. In our insurance business, we assume we're going to be here to pay every claim."
"There wouldn't be any sense playing games on [our] accounting because it would catch up with us later on."
"In many businesses, I don't think they have quite the same horizon on things. Many companies are thinking about what kind of little pictures they can paint for the next four quarters or so."
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Warren Buffett: "Would we want to own the 8% we own of Coca-Cola, the 11% of Gillette, if they said we're going to delist the stock and we'll open it again in 20 years? That's fine with us. And if it goes down on the news, we'll buy more of it."
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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."
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Warren Buffett: "The bottom 2% in terms of income in the United States, the bottom 5%, and for sure the top 1% all live better than John D. Rockefeller was living when I was six years old."
"John D. Rockefeller was the richest man in the world and, today, you can get better medicine, better education, better entertainment, better transportation. You can do everything better than he could."
"When I was born, the dentist didn't use novocaine!"
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