Charlie Munger

1702.249 - 1723.109 Charlie Munger

They were too wedded by the ideas they already had. That's everybody's trouble. You just can't accept a new idea because the place is occupied by an old idea. They got in the habit of getting their real estate practically even nothing because they went into little towns where nothing was valuable. So always their occupancy costs were like zero, and they knew how to make big division stores.