Our investment style has been given a name - focus investing - which implies ten holdings, not one hundred or four hundred. The idea that it is hard to find good investments, so concentrate in a few, seems to me to be an obvious idea. But 98% of the investment world does not think this way. It's been good for us.
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Poor Charlie Almanack (p.100)Charlie Munger
» Charlie Munger - all quotes »
Senator Menendez seems to think that tax increases create jobs and investment. I believe that private businesses create jobs, and that investment will flow to states with good economic climates and good governance, especially in a globalized economy.
Tom Kean
Actually, on humanitarian intervention in general, I guess my view is not unlike the view that was attributed to Gandhi, accurately or not, when he was supposedly asked what he thought about western civilization. He is supposed to have said that he thought it would be a good idea. Similarly, humanitarian intervention would be a good idea, in principle. [...] can we expect that with the existing power structure, distribution of power in the world, there will be humanitarian intervention? There is nothing new about the question, of course. The idea of humanitarian intervention goes back to the days of the Concert of Europe a century ago - in the 19th Century there was lots of talk about civilizing missions and interventions that would do good things. The US intervened in the Philippines to "uplift and christianize" the backward people, killing a couple of hundred thousand of them and destroying the place. The same thing happened in Haiti, the same thing happened with other countries. We cannot disregard the historical record and talk about an ideal world. It makes sense to work towards a better world, but it doesn't make any sense to have illusions about what the real world is.
Noam Chomsky
You may turn a bad idea into a good idea — don't kill the bad idea prematurely. A bad idea can evolve into a good idea.
Martin Lewis Perl
Every child in American should have access to a well-stocked school library. … An investment in libraries is an investment in our children's future.
Laura Welch Bush
The good is the everlasting, the pinnacle of our life. ... life is striving towards the good, toward God. The good is the most basic idea ... an idea not definable by reason ... yet is the postulate from which all else follows. But the beautiful ... is just that which is pleasing. The idea of beauty is not an alignment to the good, but is its opposite, because for most part, the good aids in our victory over our predilections, while beauty is the motive of our predilections. The more we succumb to beauty, the further we are displaced from the good. ...the usual response is that there exists a moral and spiritual beauty ... we mean simply the good. Spiritual beauty or the good, generally not only does not coincide with the typical meaning of beauty, it is its opposite.
Leo Tolstoy
Munger, Charlie
Munch, Edvard
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