Cod Overfished and Munger's recent comments on value investors

[LongHaul]

Munger's comments on value investors from recent WSJ article.  Any thoughts?

 

 

 

The money managers among them are “like a bunch of cod fishermen after all the cod’s been overfished,” Mr. Munger tells me. “They don’t catch a lot of cod, but they keep on fishing in the same waters. That’s what’s happened to all these value investors. Maybe they should move to where the fish are.”

 

https://www.wsj.com/articles/when-charlie-munger-calls-listen-and-learn-11548421209?mod=hp_lead_pos9

[Guest]

I liked the quote but, I'll say if they knew where to cod were they would've started fishing there already. ;)

[gfp]

Charlie just dropped this same quote at the meeting.  Fish where the fish are gentlemen

 

 

I liked the quote but, I'll say if they knew where to cod were they would've started fishing there already. ;)

 

Knowing Charlie, he’s probably thinking of ponds like China and would point out that ‘the Mungers’ have been fishing there for some time

[DooDiligence]

This seems loosely related to a WEB quote,

 

"What the wise do in the beginning, fools do in the end."