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 MungerThe total amount paid out in dividends is roughly equal to the amount lost in trading and investment advice, so net dividends to shareholders are zero. This is a very peculiar way to run a republic.
Charlie MungerIn my life there are not that many questions I can't properly deal with using my $40 adding machine and dog-eared compound interest table.
Charlie MungerThe SEC does way more good than harm - the last thing I would do is get rid of the SEC...if accounting were thoroughly fixed, a lot of other sins would go away. We're paying a huge price for deterioration of accounting.
Charlie MungerUnderstanding both the power of compound interest and the difficulty of getting it is the heart and soul of understanding a lot of things.
Charlie MungerYou'll find many markets where bottlers of Pepsi and Coke both make a lot of money and many others where they destroy most of the profitability of the two franchises. That must get down to the peculiarities of individual adjustment to market capitalism. I think you 'd have to know the people involved to fully understand what was happening.
Charlie Munger