melvin_182 Posted February 4, 2011 Share Posted February 4, 2011 Hi, Anybody went to the meeting to hear Munger ? Thanks for sharing. Link to comment Share on other sites More sharing options...
farnamstreet Posted February 4, 2011 Share Posted February 4, 2011 http://boards.fool.com/daily-journal-meeting-notes-29076851.aspx Link to comment Share on other sites More sharing options...
greg39 Posted February 4, 2011 Share Posted February 4, 2011 Anyone have any idea on how many seats the venue holds and how many went unfilled? I'm planning on going next year. Link to comment Share on other sites More sharing options...
Carvel46 Posted February 4, 2011 Share Posted February 4, 2011 farnamstreet: What boards do you follow at fool.com? Are they RSS enabled? Link to comment Share on other sites More sharing options...
Guest Posted February 4, 2011 Share Posted February 4, 2011 "- never in my life have I seen more young, rich, smart people holding so much cash - like we do at the Daily Journal. It's wise. Bill Gross's "new normal" is modest lower returns. in a period of modest returns it shouldn't make any difference. Why SHOULD life be easy? People destroy themselves in good times too. " I thought this one was particularly interesting. Link to comment Share on other sites More sharing options...
Munger_Disciple Posted February 4, 2011 Share Posted February 4, 2011 never in my life have I seen more young, rich, smart people holding so much cash - like we do at the Daily Journal. It's wise. Bill Gross's "new normal" is modest lower returns. in a period of modest returns it shouldn't make any difference. Why SHOULD life be easy? People destroy themselves in good times too. I was at the meeting & this is not what Munger said. From my recollection, he said something to the effect of: Never in my life I have seen more people I respect holding so much cas. Link to comment Share on other sites More sharing options...
Munger_Disciple Posted February 4, 2011 Share Posted February 4, 2011 Correcting spelling: Never in my life I have seen more people I respect holding so much cash. Link to comment Share on other sites More sharing options...
Myth465 Posted February 4, 2011 Share Posted February 4, 2011 never in my life have I seen more young, rich, smart people holding so much cash - like we do at the Daily Journal. It's wise. Bill Gross's "new normal" is modest lower returns. in a period of modest returns it shouldn't make any difference. Why SHOULD life be easy? People destroy themselves in good times too. I was at the meeting & this is not what Munger said. From my recollection, he said something to the effect of: Never in my life I have seen more people I respect holding so much cas. This makes 10 times more sense and I got you pre correction :). Its nice to have another guy here who makes spelling errors. Link to comment Share on other sites More sharing options...
Grenville Posted February 4, 2011 Share Posted February 4, 2011 Anyone have any idea on how many seats the venue holds and how many went unfilled? I'm planning on going next year. Don't worry about seating, just GO! If you are worried about seating, just show up early. Link to comment Share on other sites More sharing options...
savant Posted February 4, 2011 Share Posted February 4, 2011 " - A guy pestered him about his dog-eared page. Munger said that he grew up with the tables and that they haven't changed. The guy persisted - what's the number? 10? 12? Munger shot back that "I want to know the present value of something so I use my table - it's just not complicated. A lot of people DO use complicated stuff - they're the ones who got us into trouble."" FOr those of us who have never had the opportnity to go to a Wesco or DJCO meeting. What is the above referring too? Thanks Link to comment Share on other sites More sharing options...
BRK7 Posted February 4, 2011 Share Posted February 4, 2011 " - A guy pestered him about his dog-eared page. Munger said that he grew up with the tables and that they haven't changed. The guy persisted - what's the number? 10? 12? Munger shot back that "I want to know the present value of something so I use my table - it's just not complicated. A lot of people DO use complicated stuff - they're the ones who got us into trouble."" FOr those of us who have never had the opportnity to go to a Wesco or DJCO meeting. What is the above referring too? Thanks The question was referencing Munger's use of printed compound interest tables, as opposed to using a calculator or computer. The questioner seemed to be asking what discount rate Charlie uses when doing a "present value" calculation. Charlie did not give a specific figure, but suggested that only simple math is needed for investment valuation. Link to comment Share on other sites More sharing options...
Tim Eriksen Posted February 2, 2012 Share Posted February 2, 2012 Did anyone attend the Daily Journal annual meeting today? If so, I for one, would love to hear what Munger had to say. Link to comment Share on other sites More sharing options...
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