Charlie [munger] And I Are

Knowing The Edge Of Your Competency Is Important. If You Think You Know More Than You Do, You Will Get In Trouble.

It's A Big Mistake To Try And Mislead People. They Will Turn Around.

As Far As You Are Concerned, The Stock Market Does Not Exist. Ignore It.

Our Policy Is To Concentrate Holdings. We Try To Avoid Buying A Little Of This Or That When We Are Only Lukewarm About The Business Or Its Price. When We Are Convinced As To Attractiveness, We Believe In Buying Worthwhile Amounts.

If You've Got The Power To Raise Prices Without Losing Business To A Competitor, You've Got A Very Good Business. And If You Have To Have A Prayer Session Before Raising The Price By A Tenth Of A Cent, Then You've Got A Terrible Business. I've Been In Both, And I Know The Difference.