Ronit Pereira (@CAronitpereira)
@CAronitpereira
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In 2009, Berkshire Hathaway share was down 50% from it’s peak.
Charlie Munger was asked about how he felt about this. Listen to his Cold Blooded answer 🥶
Reporter: “How worried are you by the 50% decline in the Berkshire Hathaway share?”
Charlie: “Zero. This is the 3rd time that Warren and I have seen our stock holdings fall by 50% or more.”
“In fact, you should react with equanimity to market price decline of 50% or more in your portfolio at-least 2-3 times a century.”
“If you don’t, you’re not fit to be a common shareholder and you deserve the mediocre results you’re going to get. 🔥
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Charlie Munger explains Private Equity and Investment Bankers with an example of a dumb Horse 😂
“Man goes to a Vet complaining about his horse who gets vicious sometimes. The Vet replies: The next time horse behaves well…sell it.”
“That’s how private equity works.”
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