A Quote by Charlie Munger
I think there's something to be said for developing the disposition to own stocks without fretting.
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I believe that there are human stocks with whom it is physically unwise to intermarry, but to think that these stocks are all colored or that there are no such white stocks is unscientific and false.
Good culture is born of a good disposition; and since the cause is more to be praised than the effect, I will rather praise a good disposition without culture, than good culture without the disposition.
Equity mutual funds are the perfect solution for people who want to own stocks without doing their own research.
I think there are a lot of misconceptions on both sides, the developing vs. the developed world, especially about America. I've felt the frustration in my lack of belonging to any one place, but I've also felt it liberating to be able to appreciate something without feeling disloyal to my own culture.
The deep root of failure in our lives is to think, 'Oh how useless and powerless I am.' It is essential to think strongly and forcefully, 'I can do it,' without boasting or fretting.
It’s therapy. It’s just something to do so you’re not lost in your own not-so-nice thoughts, and it’s an opportunity to think about something a lot nicer and to do something that’s with more purpose. So you do it, and you take your passion and you put a lot into it, and at some point you get recognized for it. But that recognition doesn’t mean the man is without his own demons or without his own struggles.
I learned 30 years ago that it is foolish to scold. I have enough trouble overcoming my own limitations without fretting over the fact that God has not seen fit to distribute evenly the gift of intelligence.
I had a few stocks, but stocks took a dive. I never sell my stocks.
The good thing about the dividend-paying stocks is, first of all you have stocks, which are real assets if we have some inflation. I think we're going to have 2%, 3% maybe 4%. That's a sweet spot for stocks. Corporations do well with that. It gives them pricing power. Their assets move up with prices. I'm not fearful of that inflation.
There are so many wonderful classic roles, but I also would be really interested in developing something brand new. I think my heart would probably be in developing something brand new; I think that sounds really exciting.
Jazz musicians don't make any money, so I might as well make some on the market. I pick my own stocks - Microsoft, Dell - the tech stocks, the breadwinners.
If you know how to value businesses, it's crazy to own 50 stocks or 40 stocks or 30 stocks, probably because there aren't that many wonderful businesses understandable to a single human being in all likelihood. To forego buying more of some super-wonderful business and instead put your money into #30 or #35 on your list of attractiveness just strikes Charlie and me as madness.
The Lord said: 'Without Me you can do nothing' (Jn. 15:5). So for the duration of our life, every day and at every moment, we must keep unchanged in our heart the feeling, conviction and disposition, that on no occasion can we allow ourselves to think of relying on ourselves and trusting ourselves.
Someone once said that the two most important things in developing taste were sensitivity and intelligence. I don't think this is so; I'd rather call them curiosity and courage. Curiosity to look for the new and the hidden; courage to develop your own tastes regardless of what others might say or think.
John Wanamaker, founder of the stores that bear his name, once confessed: "I learned thirty years ago that it is foolish to scold. I have enough trouble overcoming my own limitations without fretting over the fact that God has not seen fit to distribute evenly the gift of intelligence.
No one ever said movies are for developing your range. Hardly anyone gets that opportunity. Which is why I think the stage is so good. It's less bread, but you can play different types, and you can initiate your own projects.
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