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Tag: Munger

The Profitability Factor

In 2012 Robert Novy-Marx wrote the paper The Other Side of Value:The Gross Profitability Premium. You could say that it is an attempt to test the hypothesis of Charles Munger and Warren Buffett that it’s far better to buy a wonderful company at a fair price than a fair company at a wonderful price. The Gross … Continue reading The Profitability Factor →

Gísli Eyland Uncategorized Leave a comment July 1, 2013July 30, 2018 1 Minute

Profile: Charles Munger

http://youtu.be/pqzcCfUglws I probably don’t enjoy anything as much as reading Charles Munger, but this is my absolute favorite piece of Munger-material (link to the whole speech): "The model I like—to sort of simplify the notion of what goes on in a market for common stocks—is the pari-mutuel system at the racetrack. If you stop to … Continue reading Profile: Charles Munger →

Gísli Eyland People, Profiles 1 Comment July 11, 2011December 30, 2013 4 Minutes

Munger on Walton and his strategy

I’ve read this speech a number of times now. I find it particularly useful when I’ve read too much nonsense and feel the need to reboot my thinking.  Here’s Munger on Sam Walton and his early strategy with Walmart: On the subject of advantages of economies of scale, I find chain stores quite interesting. Just … Continue reading Munger on Walton and his strategy →

Gísli Eyland Uncategorized Leave a comment April 23, 2011 2 Minutes

A Munger must-read

This is a transcript from a speech that Charles Munger of Berkshire did at USC Business School, 1994. A great read. If you don't get this elementary, but mildly unnatural, mathematics of elementary probability into your repertoire, then you go through a long life like a onelegged man in an asskicking contest. You're giving a … Continue reading A Munger must-read →

Gísli Eyland Uncategorized Leave a comment December 14, 2010January 25, 2011 1 Minute

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