The interesting thing is the field is so big - it's enormous. One thing a modern civilization needs is energy.
Charlie MungerI think that one should recognize reality even when one doesn't like it; indeed, especially when one doesn't like it.
Charlie MungerIt's human nature to extrapolate the recent past into the future, but it's terrible that managements go along with this.
Charlie MungerI'm a bull on Berkshire Hathaway. There may be some considerable waiting, but I think there are some good days ahead.
Charlie MungerPeople like the robber barons assumed that the doctrine of the survival of the fittest authenticated them as deserving power. You know, "I'm the richest. Therefore, I'm the best. God's in his heaven, etc." And that reaction of the robber barons was so irritating to people that it made it unfashionable to think of an economy as an ecosystem. But the truth is that it is a lot like an ecosystem. And you get many of the same results.
Charlie Munger