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Cod Overfished and Munger's recent comments on value investors


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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.”



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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

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