A Quote by Charlie Munger
The cost of being a publicly traded stock has gone way, way up. It doesn't make sense for a little company to be public anymore. A lot of little companies are going private to be rid of these burdensome requirements.
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There are positives and negatives to publicly traded and private companies.
The details of the personal expenses that executives put on the company tab often are not known because loopholes in federal disclosure rules let publicly traded companies generally avoid disclosing the perks they give executives along with pay and stock options.
The stock market has gone up and if you are stock picking, that's fine, you may do a bit better than the market. But if you want to play in another game where you can get rapid increases of value and so on and so forth, this apparently has become the new parlour game, to invest in these companies and many their cases, the private equity that has been piling in onto of the venture capital is creating the unicorn, in other words the company with the $1 billion valuation.
I've been lucky that I've got myself through various opportunities and platforms and people believing in me - my wife helping in a lot of different areas - and growing up a lot, I've shown I am ready now to be a top guy, to hold that position for the company and show what it is to represent a giant, publicly traded company like WWE.
The other dynamic keeping the stock market up - both for technology stocks and others - is that companies are using a lot of their income for stock buybacks and to pay out higher dividends, not make new investment,. So to the extent that companies use financial engineering rather than industrial engineering to increase the price of their stock you're going to have a bubble. But it's not considered a bubble, because the government is behind it, and it hasn't burst yet.
A recession is very bad for publicly traded companies, but it's the best time for startups. When you have massive layoffs, there's more competition for available jobs, which means that an entrepreneur can hire freelancers at a lower cost.
Growth isn't central at all, because I'm trying to run this company as if it's going to be here a hundred years from now. And if you take where we are today and add 15% growth, like public companies need to have for their stock to stay up in value, I'd be a multi-trillion-dollar company in 40 years. Which is impossible, of course.
Tech stocks were the cubic zirconium of the market. They looked good and were sexy, but they just were a way for the company selling them to make money. That's always going to be transient in terms of the stock market. What's real is that companies have to compete. Technology used well is a great tool to enable that if only because most companies dont use technologies well.
The vast majority of companies don't go public and mint dozens of millionaires. And most companies don't go around doling out stock options; private companies tend to be very tight about ownership.
You make other team think you going one way and you got to sell the move going that way and you've got to really make them think that you're going that way and they're going the other way. When it ends up ultimately being a perfect crossover is when you shake them so bad that they can't even get back into the play to play defense. You're already gone. That's what I think the perfect one is to where a teammate of his has to stop you from scoring.
You can get rid of the teacher certification requirements, and you're still not going to have a rush of incredibly high-quality people going into teaching as long as teachers are valued in the way they currently are. The way we value people is by how much we pay them.
There's a company behind every stock and a reason companies - and their stocks - perform the way they do.
God would not make me wish for something impossible and so, in spite of my littleness, I can aim at being a saint. It is impossible for me to grow bigger, so I put up with myself as I am, with all my countless faults. But I will look for some means of going to heaven by a little way which is very short and very straight, a little way that is quite new[...] It is your arms,
Jesus, which are the lift to carry me to heaven, And so there is no need for me to grow up. In fact, just the opposite: I must stay little and become less and less.
You have to turn over a lot of rocks to find those little anomalies. You have to find the companies that are off the map - way off the map. You may find local companies that have nothing wrong with them at all. A company that I found, Western Insurance Securities, was trading for $3/share when it was earning $20/share!! I tried to buy up as much of it as possible. No one will tell you about these businesses. You have to find them.
If you have information that a company is not as good as its stock market valuation, you don't have a way to sell that stock unless you already own it. And so that information doesn't get incorporated in the company's stock price as fast if you don't allow short selling.
There are many ways to push for much-needed reforms: One way is to make a donation. It doesn't matter much whether you contribute publicly or in a private way - either way is good. What matters is your true intention.
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