This is a good life lesson: getting the right people into your system is the most important thing you can do.
Charlie MungerI like people admitting they were complete stupid horses' asses. I know I'll perform better if I rub my nose in my mistakes. This is a wonderful trick to learn.
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 Internet bubble circa 2000 is the most extreme in modern capitalism. In the 1930s, we had the worst depression in 600 years. Today is almost as extreme in the opposite way.
Charlie Munger