Home / Quotes / Quote by Charlie Munger

Quote by Charlie Munger

“I think that if you have a single payer system and an opt-out for people who want to pay more [for better service, etc.], I think it would be better - and I think we'll eventually get there. It wouldn't be better at the top - [our current system] is the best in the world at the top. But the waste in the present system is awesome and we do get some very perverse incentives.”

Quote by Charlie Munger

Author

Charlie Munger, born on January 1, 1924, is a distinguished business person known for his investment philosophy and partnership with Warren Buffett at Berkshire Hathaway. He has been a significant influence in the field of finance and investing, contributing to the success of the company over the years. more

You May Also Like

“The quality of the medical care delivered, including the pharmaceutical industry, has improved a lot. I don't think it's crazy for a rich country like the USto spend 15% of GDP on healthcare, and if it rose to 16-17%, it's not a big worry.”

Ifs Thinking Country Bigs Care Quality Worry Rich Crazy Industry Rose Including Medical Healthcare Gdp Pharmaceutical Medical Care Rich Countries Pharmaceutical Industry

Author:Charlie Munger

“This is a good life lesson: getting the right people into your system is the most important thing you can do.”

People Important Can Do Lessons Important Things Good Life Life Lesson

Author:Charlie Munger

“The share price must be less than book value. Preferably it will be less than net working capital less long term debt.”

Long Book Values Term Share Debt Long Term Share Price

Author:Peter Cundill

“The price must be less than one half of the former high and preferably at or near its all time low.”

Half Lows All Time Former One Half All Time Low

Author:Peter Cundill

“The price earning multiple must be less than ten or the inverse of the long term corporate bond rate, whichever is the less.”

Long Term Ten Rate Corporate Long Term Multiple Earning Inverse Corporate Bond

Author:Peter Cundill

“The company must be profitable. Preferably it will have increased its earnings for the past five years and there will have been no deficits over that period.”

Years Has Beens Past Company Five Periods Five Years Earning Deficit Profitable

Author:Peter Cundill

“The company must be paying dividends. Preferably the dividend will have been increasing and have been paid for some time.”

Has Beens Company Paid Dividends

Author:Peter Cundill

“Long term debt and bank debt (including off-balance sheet financing must be judiciously employed. There must be room to expand the debt position if required.”

Ifs Long Term Rooms Position Balance Including Debt Long Term Sheets Employed Financing Balance Sheets

Author:Peter Cundill

“In every analysis you need to isolate what the real assets are and you must not forget to examine the franchise to do business, to review the character and competence of the management and to estimate the outcome if the whole business had to be turned into cash.”

Ifs Needs Real Whole Character Forget Management Analysis Outcomes Assets Reviews Cash Competence

Author:Peter Cundill

“I try to keep in mind Oscar Wilde's comment that "saints always have a past and sinners always have a future," so no investment should be ruled out simply on the basis of past history. We focus on liquidation analysis and liquidation analysis alone.”

Should Trying Mind Past Focus Bases Investment Saint Analysis Sinner Comment Oscars Wilde

Author:Peter Cundill