Finding Compounders

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Charlie Munger on Incentives “Show me the incentive and I’ll show you the outcome.”

Billionaire Hedge Fund manager Paul Tudor Jones explains his daily routine He is worth $8billion

Rose Blumkin’s focus was intense During a luncheon honoring her for an award , Rose Blumkin stood up at 1:35pm and announced “What's wrong with you people? Don't you have jobs? I'm going back to work" She then left and went back to work In 1983, she sold 90% of Nebraska Furniture Mart to Warren Buffett for $60 million

“It’s better to be approximately right than precisely wrong” - Warren Buffett

Buffett on the three ways to avoid destruction of value for old owners when shares are issues for acquisition

Criteria for Liquidations Where Money is Held by Compang by Walter Schloss. Walter Schloss returned 15.7% per year over 45years.

A Fool And His Money Are Soon Invited Everywhere

“If you think you’re going to see an opportunity every week you’re going to lose a lot of money “- Warren Buffettt

“Position sizing was 70 to 80% of the game. The reason that struck me is because, first of all, purportedly George Soros made money on fewer than 30% of his trades.” What Stanley Druckenmiller taught Michael Mauboussin on investing

Buffett on Banking “Banking is one of the few industries in which there is no advantage to being number one” Source : amzn.to/3Py0tbp

Pulak Prasad of Nalanda Capital is just impressive Saurabh Mukherjea’s recounts his failed attempt in trying to convince Prasad to sell $30 million shares of Berger Paints even after he had doubled his money. That same stake that Prasad refused to sell ended up becoming worth $500 million h/t : @Ronitper

“Some people get rich studying artificial intelligence. Me, I make money studying natural stupidity” - Carl Icahn

Imagine giving Buffett $30 000 and now being worth. $300 million That is what happened to the Angle family Great article

"Warren told me a story once that, back in the early days of their partnership, when they had no financial connection and each had an investment partnership, Warren would frequently call up Charlie and say, 'I'm thinking of doing something' and describe it, and Charlie would say, 'My God, are you kidding? There's this risk and that risk! They'd go right through all these risks that Charlie saw, and Warren would usually say, 'I think you're right. But once in a while, he would say, 'Charlie, I've heard everything you said, but I think I'm going to go ahead.' Warren said that it wasn't until that instant that he'd learn what Charlie really thought because occasionally Charlie would respond, 'Warren, if you do it, could I have a percentage of it?' People often think of Charlie as identifying risks and saying, 'No', but it was his ability to identify the times to ask for a percentage that was the most valuable." - Chuck Rickershauser, former Munger Tolles Partner

Markets can remain irrational longer than you can remain solvent. - John Maynard Keynes

Charlie Munger when asked if he worried about his stocks falling by 50% in 2009

“If you can talk to a CEO, ask them this question: If you were stuck on a desert island for 10 years, which of your competitor’s stock would you buy, and which one would you short” - Warren Buffett

Hedge Fund manager , James Cordier , apologizes to 290 clients after losing $150 million of their money while trading Naked Call Options on Gas futures

Warren Buffett made an offer for Dairy Queen in approximately 30 minutes after looking at the numbers, after receiving a cold call from a banker telling him that the company is for sale Berkshire bought Dairy Queen for $585 million in 1998

Berkshire Hathaway’s Acquisition Criteria