There are worse situations than drowning in cash and sitting, sitting, sitting. I remember when I wasnโt awash in cash โ and I donโt want to go back.
Charlie MungerMost people will see declining returns [due to inflation]. One of the great defenses if you're worried about inflation is not to have a lot of silly needs in your life - you don't need a lot of material goods.
Charlie Mungerthere are all kinds of wonderful new inventions that give you nothing as owners except the opportunity to spend a lot more money in a business that's still going to be lousy. The money still won't come to you. All of the advantages from great improvements are going to flow through to the customers.
Charlie MungerJust avoid things like racing trains to the crossing, doing cocaine, etc. Develop good mental habits.
Charlie Munger