10 great quotes from the 2015 Berkshire Hathaway meeting
Warren Buffett and Charlie Munger share their wisdom during a six-hour long Q&A at Berkshire Hathaway’s annual meeting, which celebrated the 50th anniversary of Buffett taking control of the company. Remember Charlie Munger is 90 and Warred Buffet is 86. Here are ten of the most memorable quotes:
- “The trouble with making all these pronouncements is people gradually begin to think they know something. It’ much better to think you’re ignorant” … “If people weren’t so often wrong, we wouldn’t be so rich” – Munger on macro forecasts
- “We’ve seen people self-destruct to make money they didn’t need. That’s madness” – Buffett
- “You shouldn’t form a business partnership with your thriftless, drunk brother-in-law” – Munger on weak economies joining the Euro
- “The idea of multitasking my way to glory has never occurred to me” – Munger on the importance of focus in everything you do
- “There’s a big tendency to raise prices to what can be collected, and then rationalize that it’s worth it” – Munger on the high cost of attending exclusive US universities
- “It’s dishonourable to stay stupider than you need to be” – Munger on the importance of learning and being rational
- “The whole thing in business is being open to the ideas that may come along” – Buffett on looking for opportunities
- “I never considered it enough in life to just be shrewder than everyone and make money from passively investing” – Munger on having a diverse range of interests
- "There's no Forbes 400 in the graveyard" – Buffett on the importance of giving back
- “It’s crazy to sweat at night” …[pause]… “over financial things” [laughter] – Munger, and Buffett's clarification
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