Spekulatius Posted February 15, 2020 Posted February 15, 2020 Gems from the Daily Journal Meeting from Tren Griffin (who is well worth a follow on Twitter): https://twitter.com/trengriffin/status/1228485879397662720?s=21
DooDiligence Posted February 15, 2020 Posted February 15, 2020 Gems from the Daily Journal Meeting from Tren Griffin (who is well worth a follow on Twitter): https://twitter.com/trengriffin/status/1228485879397662720?s=21 "When I was a meteorologist in World War II, they told me how to draw weather maps and predict the weather. But what I was actually doing is clearing pilots to take flights. I just reversed the problem. I inverted. I said, "Suppose I wanted to kill a lot of pilots." Munger Priceless
DooDiligence Posted August 4, 2020 Posted August 4, 2020 I was trying to find info on businesses that BRK may be closing or selling & came across this. “Technological change is destroying daily newspapers in America including the little ones like ours,” Mr Munger told Daily Journal investors. “The revenue goes away and the expenses remain and they’re all dying. Berkshire owns about 100 of them and it doesn’t matter because they’re all going to die. There’s nothing that can be done.” “Think how different television is, [Walter] Cronkite is gone. We have all these clowns on the opinion service lying to us . . . and they’re really good at it,” he added. “The ability to mislead people is greatly underestimated.” www.ft.com/content/03f977e6-4dde-11ea-95a0-43d18ec715f5 --- Between Jain, Able, Todd & Ted, who do you think would best model Munger?
Guest longinvestor Posted August 4, 2020 Posted August 4, 2020 I was trying to find info on businesses that BRK may be closing or selling & came across this. “Technological change is destroying daily newspapers in America including the little ones like ours,” Mr Munger told Daily Journal investors. “The revenue goes away and the expenses remain and they’re all dying. Berkshire owns about 100 of them and it doesn’t matter because they’re all going to die. There’s nothing that can be done.” “Think how different television is, [Walter] Cronkite is gone. We have all these clowns on the opinion service lying to us . . . and they’re really good at it,” he added. “The ability to mislead people is greatly underestimated.” www.ft.com/content/03f977e6-4dde-11ea-95a0-43d18ec715f5 --- Between Jain, Able, Todd & Ted, who do you think would best model Munger? Munger’s shoes are almost impossible to fill I think. It’s hard to imagine the annual meetings continue in the same fashion that it has for 40 years. But we have archives . Future questions are likely to be repeat from the past.
DooDiligence Posted August 4, 2020 Posted August 4, 2020 I was trying to find info on businesses that BRK may be closing or selling & came across this. “Technological change is destroying daily newspapers in America including the little ones like ours,” Mr Munger told Daily Journal investors. “The revenue goes away and the expenses remain and they’re all dying. Berkshire owns about 100 of them and it doesn’t matter because they’re all going to die. There’s nothing that can be done.” “Think how different television is, [Walter] Cronkite is gone. We have all these clowns on the opinion service lying to us . . . and they’re really good at it,” he added. “The ability to mislead people is greatly underestimated.” www.ft.com/content/03f977e6-4dde-11ea-95a0-43d18ec715f5 --- Between Jain, Able, Todd & Ted, who do you think would best model Munger? Munger’s shoes are almost impossible to fill I think. It’s hard to imagine the annual meetings continue in the same fashion that it has for 40 years. But we have archives . Future questions are likely to be repeat from the past. I was thinking in terms of how many bad decisions he's kept WEB from making by being the devils advocate. I'll bet he had a few choice barbs about airlines which didn't stop the purchases but may have helped create the about face. The flip side of this might be that he cast a shade on opportunities last March. I hope (for better & for worse) there will always be a curmudgeon involved in allocation issues.
LC Posted August 4, 2020 Posted August 4, 2020 Jain seems the closest to Munger out of that bunch. Insurance and fixed income investors are sharp, shrewd folks.
Guest longinvestor Posted August 4, 2020 Posted August 4, 2020 Jain seems the closest to Munger out of that bunch. Insurance and fixed income investors are sharp, shrewd folks. Think so too. Folks like Tony Nicely could fit the bill, as does Tom Murphy. But they are all old curmudgeons! Maybe minimum age of 80 is the qualification!
nickenumbers Posted August 6, 2020 Posted August 6, 2020 “It is remarkable how much long-term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very intelligent.” — Charlie Munger ;D Love that guy. Thank you Charlie!
nickenumbers Posted August 7, 2020 Posted August 7, 2020 I would rather make money playing a piano in a whorehouse than arguing that no cost is incurred when employees are paid in stock options instead of cash. I am not kidding. Charlie Munger
DooDiligence Posted August 7, 2020 Posted August 7, 2020 I would rather make money playing a piano in a whorehouse than arguing that no cost is incurred when employees are paid in stock options instead of cash. I am not kidding. Charlie Munger Potential career path for me.
Spekulatius Posted October 29, 2021 Author Posted October 29, 2021 https://www.independent.com/2021/10/28/architect-resigns-in-protest-over-ucsb-mega-dorm/ The idea was conceived by 97-year-old billionaire-investor turned amateur-architect Charles Munger, who donated $200 million toward the project with the condition that his blueprints be followed exactly.
gfp Posted October 29, 2021 Posted October 29, 2021 Oh Charlie... And now Munger defends his design (with a graphic of the 8 bedroom clusters) ---> https://www.bloomberg.com/news/articles/2021-10-29/charlie-munger-defends-design-for-dorm-bashed-by-architect
DooDiligence Posted October 29, 2021 Posted October 29, 2021 Somebody should remind Chuck about this one. "Guard against the effects of hubris and boredom" Personally, I think he's lost his mind, despite the appearance of being "sharp" at AGM's. There's a fine line between sharp and smug. https://25iq.com/charlie-munger-book-to-date-chapters-1-5/
boilermaker75 Posted October 29, 2021 Posted October 29, 2021 1 hour ago, Spekulatius said: https://www.independent.com/2021/10/28/architect-resigns-in-protest-over-ucsb-mega-dorm/ The idea was conceived by 97-year-old billionaire-investor turned amateur-architect Charles Munger, who donated $200 million toward the project with the condition that his blueprints be followed exactly. From the link, Chancellor Henry Yang has hailed it as “inspired and revolutionary.” I was an Assistant Dean for Henry when he was Dean of Engineering at Purdue, about 30 years ago, until he left to become chancellor of UCSB. If Henry likes the idea it is probably worth doing. Henry is probably the longest running chancellor/president of any major university. It has been a while since I spoke to any faculty at UCSB, but when I did they loved him.
valueinvesting101 Posted October 30, 2021 Posted October 30, 2021 Three of my friends shared similar sized windowless room in the college dorm in one of the topmost institute in Mumbai. Two of them are in the US working with Facebook and EY earning $300K-500K after studying further in the US. Even I have stayed in that small room on an occasion and none of them complained. UCSB facility might not be perfect but it is certainly AMAZING compared that dorm. It is interesting how much can be achieved when we focus attention on important things.
MattR Posted October 30, 2021 Posted October 30, 2021 20 hours ago, boilermaker75 said: From the link, Chancellor Henry Yang has hailed it as “inspired and revolutionary.” I was an Assistant Dean for Henry when he was Dean of Engineering at Purdue, about 30 years ago, until he left to become chancellor of UCSB. If Henry likes the idea it is probably worth doing. Henry is probably the longest running chancellor/president of any major university. It has been a while since I spoke to any faculty at UCSB, but when I did they loved him. He can be a god, this design is ludacris. No windows are insane. The plans also doesn't have great common rooms for just relaxing. 1 toilet for 8 people? What happens when the air conditioning breaks (it's a student dorm, it will break). Crazy design...
SharperDingaan Posted October 30, 2021 Posted October 30, 2021 (edited) As with dentists,we hire architects for a very good reason. We dont expect investing brilliance from an architect, and we dont expect architectural genius from an investor! SD Edited October 31, 2021 by SharperDingaan
Spekulatius Posted October 30, 2021 Author Posted October 30, 2021 22 hours ago, DooDiligence said: Somebody should remind Chuck about this one. "Guard against the effects of hubris and boredom" Personally, I think he's lost his mind, despite the appearance of being "sharp" at AGM's. There's a fine line between sharp and smug. https://25iq.com/charlie-munger-book-to-date-chapters-1-5/ I don’t think he lost his mind but he is getting increasingly hard nosed and incapable of changing his mind. Thats probably understandable for a 97 year old
Morgan Posted October 31, 2021 Posted October 31, 2021 If my memory is correct, his pre-Buffett investments were primarily in real estate. I guess he wants to go back to his early days. Nothing wrong with that, but no windows is crazy. At my dorm in university, I believe we had three toilets and three showers for 8-10 guys. It wasn’t an issue at all. Having only one toilet might have created issues. Particularly if it broke down. We didn’t have AC on the fourth floor either.
gfp Posted October 31, 2021 Posted October 31, 2021 Oh it's not so bad. Remember what a typical undergraduate dorm looks like. Mine was a concrete cell with no privacy and double occupancy. Restrooms shared for an entire floor, no kitchens, period. Quite a bit of detail in this presentation: https://drive.google.com/file/d/1IgEAYCEphg6x6WDQ8NQGuILqN31SA6LP/view?__source=newsletter|warrenbuffettwatch
SharperDingaan Posted October 31, 2021 Posted October 31, 2021 (edited) Every initial roll-out includes dumb errors - that's why we have sounding boards. Obviously the concept is great, but design execution just needs a little work ... Apparently these things are not co-ed? It's OK to have large amounts of unfilled rooms, simply because the gender balance is off? ... Charlie, the waste! Something against windows? Keep the crazies down and there's a lot less 'wear and tear' .... Charlie, the incremental operating costs! The man hasn't lived in a household full of women??? .... Charlie, what the hell are you thinking! SD Edited October 31, 2021 by SharperDingaan
bizaro86 Posted October 31, 2021 Posted October 31, 2021 4 hours ago, gfp said: Oh it's not so bad. Remember what a typical undergraduate dorm looks like. Mine was a concrete cell with no privacy and double occupancy. Restrooms shared for an entire floor, no kitchens, period. Quite a bit of detail in this presentation: https://drive.google.com/file/d/1IgEAYCEphg6x6WDQ8NQGuILqN31SA6LP/view?__source=newsletter|warrenbuffettwatch Thanks for sharing that. I never lived in a dorm, but that looks at least as nice as many at the school I attended. We also had no need for surfboard storage. It seems to me that indoor space might be less important in a climate where that is a valuable amenity.
Morgan Posted October 31, 2021 Posted October 31, 2021 I just took a look at the plans and that looks nicer than the dorm and other places I lived in during university. I understand the need of adding more beds densely, and the rooms are small and basically only for sleeping. Once you wake up, you're in the community areas with what looks like quite a bit of natural light. I think it looks ok. One or two years in there wouldn't be there worst at all. It has elevators and AC!
boilermaker75 Posted October 31, 2021 Posted October 31, 2021 9 hours ago, gfp said: Oh it's not so bad. Remember what a typical undergraduate dorm looks like. Mine was a concrete cell with no privacy and double occupancy. Restrooms shared for an entire floor, no kitchens, period. Quite a bit of detail in this presentation: https://drive.google.com/file/d/1IgEAYCEphg6x6WDQ8NQGuILqN31SA6LP/view?__source=newsletter|warrenbuffettwatch Exactly what my dorm was like. Of course I only lived there one year!
gfp Posted November 3, 2021 Posted November 3, 2021 (edited) Charlie spoke to CNN about that dorm and a few additional topics - https://edition.cnn.com/2021/11/02/investing/charlie-munger-buybacks-tax/index.html?utm_content=2021-11-03T01%3A31%3A05&utm_medium=social&utm_source=twCNN&utm_term=linktm_term=link https://markets.businessinsider.com/news/stocks/charlie-munger-warren-buffett-windowless-dorm-inflation-stock-buyback-tax-2021-11 "When an ignorant man leaves, I regard it as a plus, not a minus," Munger said. edit: I found the video of their interview with Charlie over Zoom: https://www.cnn.com/videos/business/2021/11/02/munger-hall-ucsb-dorm-controversy-gr-orig.cnn Edited November 3, 2021 by gfp
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