A Quote by Charlie Munger
In business we often find that the winning system goes almost ridiculously far in maximizing and or minimizing one or a few variables - like the discount warehouses of Costco.
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Good salesmanship is nothing more than maximizing the positive and minimizing the negative.
I was a better builder than a manager. I'd rather focus on maximizing the opportunities swinging for the fences than minimizing the risk with bunts and singles.
Costco is a passion. Costco is like a massage.
It is a tenet of my investment style that, on the subject of common stock investment, maximizing the upside means first and foremost minimizing the downside. The deleterious effect of permanent capital loss on portfolio returns cannot be overstated.
Ask anybody who has ever remodeled their house. There's always problems. They open up walls, they find this, they find that. There is always something. I'm in a business where you have to control those variables.
Capitalism is very far from a perfect system, but so far we have yet to find anything that clearly does a better job of meeting human needs than a regulated capitalist economy coupled with a welfare and health care system that meets the basic needs of those who do not thrive in the capitalist economy. If we ever do find a better system, I'll be happy to call myself an anti-capitalist.
My forte is the music. But obviously if ya don't keep up with the business, then your kinda doing it for nothing. So I do plan on being well off doing, maximizing what I do now. I heard Jimmy Kimmel describe being in your thirties in hip-hop is like the equivalent to being 300 yrs. old; almost like a dinosaur.
The aim ... is to provide a clear and rigorous basis for determining when a causal ordering can be said to hold between two variables or groups of variables in a model . . . . The concepts refer to a model-a system of equations-and not to the 'real' world the model purports to describe.
The N.C.A.A. is a multibillion-dollar business built on the talents of players who are often unqualified for or uninterested in being students and who benefit materially from the system only if they are among the few who turn professional.
A massive new penal system has emerged in the past few decades - a penal system unprecedented in world history. It is a system driven almost entirely by race and class.
Capitalism does not permit an even flow of economic resources. With this system, a small privileged few are rich beyond conscience, and almost all others are doomed to be poor at some level. That's the way the system works. And since we know that the system will not change the rules, we are going to have to change the system.
If I like chocolate it won't surprise you that I have a few chocolates in my fridge, but if you find out I've got 16 warehouses full of chocolate, you'd think I was insane. All these rich guys are insane, obsessive compulsive twits obsessed with money - money is all they think about - they're all nuts.
Free enterprise democracy has proven the best system by far for maximizing freedom, prosperity, and happiness. Dictatorship, Soviet style communism, and hereditary aristocracy have proven about the worst environments for people to achieve all three of these goals.
The essence of risk management lies in maximizing the areas where we have some control over the outcome while minimizing the areas where we have absolutely no control over the outcome.
It's easy to discount water's importance in the kitchen. After all, it has no flavor, and more often than not, it's left off ingredient lists, making it seem like an afterthought. Yet water is an essential element of almost everything we cook and eat, and it affects the flavor and texture of all our food.
A system that warehouses people is not the cure for social ills
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