Additional Host
Appearances
Acquired
Charlie Munger
There's been a lot of discussion about Berkshire's investments in the Japanese trading houses.
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Charlie Munger
To the style point, another one that they covered was LVMH. What Arnaud has done has been amazing. So what do you make of that company?
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Charlie Munger
So what do you think? So there are categories like C's or like Hermes where brands lead to pricing power.
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Charlie Munger
Why do you think there are extremely well-known brands in other categories, maybe packaged food or something?
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Charlie Munger
No, I have to and I do. I'm curious being that since these guys are very tech focused, I'm curious not being a tech person. How did you think about the Apple investment and what gave you the conviction to be so big?
Acquired
Charlie Munger
I'm curious, what major companies that haven't been mentioned do you think people would do well to study the virtues of, like studying the virtues of Costco?
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Charlie Munger
Forgetting the prospects of the stock, how do you think about the next 10 years for the business? I think it'll do pretty well.
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Charlie Munger
And I don't think you're saying there are no opportunities whatsoever. I think you're just saying low expectations and fewer bonanzas.
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Charlie Munger
Well, that's sort of your philosophy on both sides is you've got to be patient for the great opportunities, but you've got to recognize them when they come and pounce.
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Charlie Munger
What do you think about the predictability? There were a number of companies back when you started where you could have said this business will be the same in 10 years. Do you think that number is the same today or do you think it's much harder?
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Charlie Munger
What companies can you see today where you can confidently say, Berkshire aside, Costco aside, you can confidently say the business will be as good as it is today in 10 years?
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Charlie Munger
Charlie, a lot of people are going to benefit a lot from hearing this and your wisdom, and they're going to learn so much.
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Charlie Munger
What do you think about the algorithms, like Renaissance and stuff like that?