A Quote by Charlie Munger

Like the stocks of both Berkshire and Wesco to trade within hailing distance of what we think of as intrinsic value. When it runs up, we try to talk it down. That's not at all common in Corporate America, but that's the way we act.

Charlie Munger

Quote Topics

Act America Both Common Corporate Corporate America Distance Down Intrinsic Intrinsic Value Like Runs Stocks Talk Think Trade Try Up Value Way Within

Quote Author

Charlie Munger
American - Businessman
Born: January 1, 1924

We bought a doomed textile mill [Berkshire Hathaway] and a California S&L [Savings & Loan; Wesco] just before a calamity. Both were bought at a discount to liquidation value.

Charlie Munger

We don't have any miraculous way of avoiding taxes at Wesco and Berkshire.

Charlie Munger

Value is not intrinsic, it is not in things. It is within us; it is the way in which man reacts to the conditions of his environment. Neither is value in words and doctrines, it is reflected in human conduct. It is not what a man or groups of men say about value that counts, but how they act.

Ludwig von Mises

Market prices for stocks fluctuate at great amplitudes around intrinsic value but, over the long term, intrinsic value is virtually always reflected at some point in market price.

Warren Buffett

Mr. Market does not always price stocks the way an appraiser or a private buyer would value a business. Instead, when stocks are going up, he happily pays more than their objective value; and, when they are going down, he is desperate to dump them for less than their true worth.

Benjamin Graham

Nirvana, to a value investor, is paying a cheap price for a company that is growing in value every year at a nice rate - this largely explains why today we own stocks like Berkshire Hathaway, McDonald's, Wal-Mart, Microsoft, Costco and Anheuser-Busch.

Whitney Tilson

In essence, the stock market represents three separate categories of business. They are, adjusted for inflation, those with shrinking intrinsic value, those with approximately stable intrinsic value, and those with steadily growing intrinsic value. The preference, always, would be to buy a long-term franchise at a substantial discount from growing intrinsic value.

Michael Burry

People have been like 'well you need millions of dollars to buy and sell stocks.' That sort of idea was thrown out of the window with online brokerages like E-trade and Fidelity, and today, we think that you don't even need thousands of dollars to trade stocks.

Baiju Bhatt

Michael Burry

Intrinsic value can be defined simply: It is the discounted value of the cash that can be taken out of a business during its remaining life. The calculation of intrinsic value, though, is not so simple. As our definition suggests, intrinsic value is an estimate rather than a precise figure, and it is additionally an estimate that must be changed if interest rates move or forecasts of future cash flows are revised.

Warren Buffett

Market value is irrelevant to intrinsic value. ... Unqualified judgment can at most claim to decide the market-value - a value that can be in inverse proportion to the intrinsic value.

Arnold Schoenberg

I think there's a big difference between the impact of trade agreements on corporate America and the impact on Mr. and Mrs. America. Corporate America has adjusted to them by investing lots of capital offshore... What we're doing is we're exporting jobs and importing products instead of exporting products and keeping jobs.

Wilbur Ross

Both cheap value stocks and more glamorous growth stocks can work well in a portfolio - if done right.

Kenneth Fisher

While I take no pleasure in others' misfortunes, we've historically made most of our profits from other investors behaving in a panicked and irrational fashion and selling us certain stocks at prices far below their intrinsic value. More volatility equals cheaper stocks, which equals higher returns.

Whitney Tilson

Bangkok's street food culture may have recently been forced to clean up its act but personally, we think there's nothing better than a steaming bowl of noodles eaten within tripping distance of traffic, washed down with a cold beer, of course.

Melissa Leong

[Donald Trump rhetoric]this is a common rhetorical line used by people who are against free trade that say, we're in favor of trade; we just don't like any of the free trade deals that America has actually signed onto.

Avik Roy

A Quote by Charlie Munger

Quote Topics

Quote Author

Related Quotes

Related Authors