A Quote by Charlie Munger
You'll find many markets where bottlers of Pepsi and Coke both make a lot of money and many others where they destroy most of the profitability of the two franchises. That must get down to the peculiarities of individual adjustment to market capitalism. I think you 'd have to know the people involved to fully understand what was happening.
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There are so many flavors of Coke now - Coke with lemon, Coke with vanilla, Coke with lime, Cherry Coke, and they've just brought out another new flavor - Coke with Pepsi.
People think what's in the US today is capitalism. It's not even close to capitalism. Capitalism doesn't have a central bank, capitalism doesn't have taxes, it doesn't have regulations; capitalism is just voluntary transactions. What they have in the US today I call crapitalism. But it's sad that so many people are confused and they think, 'Oh that's free markets in the US', when it's one of the least free market countries on earth.
They do what they do for money - that's all. I don't even know why you're listening to me. I've done commercials for both Coke and Pepsi. Truth is, I can't even taste the difference, but Pepsi paid me last, so there it is.
There's a lot of guys who use their likeness - to do movies, and do other business stuff, but not too many guys are actually making product. I'm making product, it's a different thing. A lot of guys are holding up Coke cans and get paid a lot of money to do that, but no one's making a Coke can. I'm the guy that's trying to make the Coke can.
If you could distill this down to a single principle its that the best marketers in the world know MARKETS first and foremost, and secondly they're students of MARKETING. It's more important to know a MARKET than to know MARKETING, and I teach people MARKETING! And so, as far as this seminar is concerned, it's all about knowing a market, and it's so thorough that even if you don't have personal experience in that market you can still go into it and find out, what are the things that people will pay money for!
I want to get involved in causes I believe in, and I know so many others that want to also get involved, but it's hard to know how. Often, it's through big organisations, and you don't know exactly where your money is going or what effect you are having.
Can somebody explain to me why Pepsi and Coke advertise? Are we missing something? Seriously, everyone in this room has drank enough Pepsi and Coke in their lifetime they could piss it for a week.
I feel like I can't fully understand what's happening now until I really understand what's happened before. But you do get sort of bogged down a little bit when you're trying to study so many years' worth of music. It can be a little bit overwhelming.
When you're making a film, there are so many people involved that you get opinions and notes from people and you don't even know who they are. I find that quite difficult and it wears you down.
We have two evils to fight, capitalism and racism. We must destroy both racism and capitalism.
That so many of us find it entirely plausible that a vast network of researchers and health officials and doctors worldwide would willfully harm children for money is evidence of what capitalism is really taking from us. Capitalism has already impoverished the working people who generate wealth for others. And capitalism has already impoverished us culturally, robbing unmarketable art of its value. But when we begin to see the pressures of capitalism as innate laws of human motivation, when we begin to believe that everyone is owned, then we are truly impoverished.
It is not uncommon to suppose that the free exchange of property in markets and capitalism are one and the same. They are not. While capitalism operates through the free market, free markets don't require capitalism.
I think people cast their votes for a number of reasons. I think if you look at your polls, you'll probably find that many, many people think that our views are closer to what they believe the future of America should be. That our views are closer on economic issues. And a lot of those polls come down to demographics, to age, to how much money you are making.
There are, in truth, no specialties in medicine, since to know fully many of the most important diseases a man must be familiar with their manifestations in many organs.
It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight! It is no trick at all to be right on the market. You always find lots of early bulls in bull markets and early bears in bear markets. I've known many men who were right at exactly the right time, and began buying or selling stocks when prices were at the very level which should show the greatest profit. And their experience invariably matched mine--that is, they made no real money out of it. Men who can both be right and sit tight are uncommon.
The difference between Libertarian and Conservative is that Conservatives understand this, and know that unregulated capitalism will eventually end with human meat sold in market places, and slavery. Alas, many Conservatives think that everything has to be regulated and controlled.
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