Charlie Munger Quotes About Trade

Quotes about: Trade

• Derivative trading with mark-to-market accounting degenerates into mark-to-model. Two firms make a big derivative trade and the accountants on both sides show a large profit from the same trade.

  Charlie Munger

  Two, Degenerates, Sides

  Source: www.calculatedriskblog.com

• You can hire your advisor and then just apply a windage factor, like I used to do when I was a rifle shooter. I'd just adjust for so many miles an hour wind. Or you can learn the basic elements of your advisor's trade. You don't have to learn very much, by the way, because if you learn just a little then you can make him explain why he's right.

  Charlie Munger

  Wind, Rifles, Elements

• Like the stocks of both Berkshire and Wesco to trade within hailing distance of what we think of as intrinsic value. When it runs up, we try to talk it down. That's not at all common in Corporate America, but that's the way we act.

  Charlie Munger

  Running, Distance, Thinking

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