Some years ago one oil company bought a fertilizer company, and every other major oil company practically ran out and bought a fertilizer company. And there was no more damned reason for all these oil companies to buy fertilizer companies, but they didn't know exactly what to do, and if Exxon was doing it, it was good enough for Mobil and vice versa.
Charlie MungerI think the idea that the hedge fund manager gets lower taxes than the taxi driver or the physics professor is insane. The legislators who leave that policy in place are derelict in their duties to be rational and fair. There are plenty of them in both political parties. It's totally outrageous.
Charlie MungerThe ethos of not fooling yourself is one of the best you could possibly have. It's powerful because it's so rare.
Charlie MungerOnce you get into debt, itโs hell to get out. Donโt let credit card debt carry over. You canโt get ahead paying eighteen percent.
Charlie Munger