Berkshireis in the business of making easy predictions If a deal looks too hard, the partners simply shelve it.
Charlie MungerThe normal expectancy of the average investor - for example, the pension funds of AT&T or IBM - is 6% for a long time.
Charlie MungerThe wise ones bet heavily when the world offers them that opportunity. They bet big when they have the odds. And the rest of the time, they don't. It's just that simple.
Charlie MungerIf you have competence, you know the edge. It wouldnt be a competence if you didnt know where the boundaries lie. Asking whether youve passed the boundary is a question that almost answers itself.
Charlie Munger