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We bought a doomed textile mill [Berkshire Hathaway] and a California S&L [Savings & Loan; Wesco] just before a calamity. Both were bought at a discount to liquidation value.
Charlie Munger's comments on Wesco and Berkshire Hathaway at the 2001 Wesco Financial Annual Meeting, www.tilsonfunds.com. May 2, 2001.
![We bought a doomed textile mill [Berkshire Hathaway] and a California S&L [Savings & Loan; Wesco] just before a calamity. Both were bought at a discount to liquidation value. - Charlie Munger](https://www.azquotes.com/picture-quotes/quote-we-bought-a-doomed-textile-mill-berkshire-hathaway-and-a-california-s-l-savings-loan-charlie-munger-141-43-73.jpg "We bought a doomed textile mill [Berkshire Hathaway] and a California S&L [Savings & Loan; Wesco] just before a calamity. Both were bought at a discount to liquidation value. - Charlie Munger")
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