The future is never clear; you pay a very high price for a cheery consensus. Uncertainty actually is the friend of the buyer of long-term values.
Warren Buffett, Forbes 1979
We had a no-asshole rule very early. Our basic rule has always been that we won’t deal with assholes.
Charlie Munger
Lehman CEO Fuld, full testimony before House Oversight Committee (CSPAN).
Gets good @ 01:07:11
Asset and Liabilities of Commercial Banks in the United States
commentary from CATO Institute Bank Loans Have Not ‘Dried Up’
Charlie, as a very young lawyer, was probably getting $20 an hour. He thought to himself, “Who’s my most valuable client?” And he decided it was himself. So he decided to sell himself an hour each day. He did it early in the morning, working on these construction projects and real estate deals. Everybody should do this, be the client, and then work for other people, too, and sell yourself an hour a day.
Warren Buffett on Charlie Munger
