It took us months of buying all the Coke stock we could to accumulate $1 billion worth - equal to 7% of the company. It's very hard to accumulate major positions.
Charlie MungerOver many decades, our usual practice is that if something we like goes down, we buy more and more. Sometimes something happens, you realize youโre wrong, and you get out. But if you develop correct confidence in your judgment, buy more and take advantage of stock prices.
Charlie MungerIt is remarkable how much long-term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very intelligent.
Charlie MungerClever derivatives broke dozens of companies. It killed them. Bankrupt. We don't need these kinds of innovation in finance. It's OK to be boring in finance. What we want is innovation in widgets.
Charlie Munger