Thursday, February 7, 2013

Munger DJCO

A nice, light compilation of some things that Munger said recently.

I like what he said about the recent macro events - 
"Question: have you changed your investment philosophy due to macro concerns?  Nope"

And why there is a plausible reason for no future Berkshire style company...
- On why other CEOs can't copy the Berkshire Hathaway (BRK.A) operating model: "They came to power at 58 and they're gone at 63."


The thing about pricing power is known, and having worked in this field I know it's really difficult to find a decently priced company which has good pricing power...

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