RE: Plagiarised But Very Relevant Here11 Dec 2021 10:22
I'll just keep putting the following up as a reminder. The lowlife are desperately looking for any reason to undermine the fantastic potential of our company.
Charlie Munger, Warren Buffett's 97-year-old business partner, explained why he welcomes market panic.
Here are Munger's the best quotes from the interview, lightly edited and condensed for clarity:
1. "Value investors like Warren and me look for intrinsic value and ignore the noise of the constant movement of stock prices. But we look at the patterns of the noise to pick our hiding places for value investments in both time and place."
2. You don't need great opportunities very often, once in a lifetime is enough.
3. ""Every good card player knows that you've got to not blow your opportunities. You don't get that many. Not enough people carry that card-playing wisdom over into practical life."
4. "It really matters whether, when the few great opportunities do come along, you reach out and grab them vigorously."
5. "It really helped us to have everybody else believe in the efficient market theory in its hardest form. It was an interesting example of a learned profession going bonkers." — referring to the idea that markets correctly price assets so bargains don't exist. "Warren and I had the advantage of being imperfectly educated, and therefore we thought the academics were stark raving mad. Which of course they were."
I took this from the forum of another share I'm in. For those that actually follow the official news releases and the obvious related organisational and geopolitical movements surrounding Eurasia, the above must resonate.