Wednesday, April 22, 2009

Warren Buffett on Charlie Munger

Warren Buffett on his vice chairman:

"When I call Charlie with an idea...and he says, 'That is really a dumb idea,' that means we should put 100% of our net worth into it. If he says, 'That is the dumbest thing I've ever heard,' then you should put 50% of your net worth into it. Only if he says, 'I'm going to have you committed,' does it mean he really doesn't like the idea."

Seems to have worked pretty well for them.

Adam

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