It's human nature to extrapolate the recent past into the future, but it's terrible that managements go along with this.
Charlie MungerIf you rise in life, you have to behave in a certain way. You can go to a strip club if you're a beer-swilling sand shoveler, but if you're the Bishop of Boston, you shouldn't go.
Charlie MungerDon't confuse correlation and causation. Almost all great records eventually dwindle.
Charlie Munger