May 10, 2004
The Emptiness of Buying and Selling Paper
Charlie Munger:
“… I don’t want to be known a person who just bought and sold paper. I would regard this as a failure. I want to be doing something to make civilization better … It’s amazing the brainpower being drawn into the hedge fund industry … it’s a cascade of brainpower. Collectively, they add nothing to the GNP. Indeed, they’re adding costs, collectively.”
Cat: | Time: 3:10 pm (utc+8)
May 18th, 2006 at 3:32 pm
[…] The Wisdom of Charlie Munger Overcoming One’s Own Psychological Weaknesses Sheep Guts The Emptiness of Buying and Selling Paper Cat: […]