“We’ve always tried to stay sane, and other people, a lot of them, like to go crazy. That’s a competitive advantage. Number two: as we’ve gotten bigger, we’ve used this sort of golden rule that we want to treat the subsidiaries the way we would want to be treated if we were in the subsidiaries. And that, again, is a very rare attitude in corporate America, and it causes people to come to us who don’t want to come to anybody else. That is a long-term competitive advantage. We’ve tried to be a good partner to people who come to us and need a partner with more money. That is a competitive advantage. And so, we are leaving behind a field that’s very competitive and getting into a place where we’re more unusual. This was a very good idea. I wish we had done it on purpose.” —Charlie Munger
Links - 10/20/2020
Links - 10/20/2020
Links - 10/20/2020
“We’ve always tried to stay sane, and other people, a lot of them, like to go crazy. That’s a competitive advantage. Number two: as we’ve gotten bigger, we’ve used this sort of golden rule that we want to treat the subsidiaries the way we would want to be treated if we were in the subsidiaries. And that, again, is a very rare attitude in corporate America, and it causes people to come to us who don’t want to come to anybody else. That is a long-term competitive advantage. We’ve tried to be a good partner to people who come to us and need a partner with more money. That is a competitive advantage. And so, we are leaving behind a field that’s very competitive and getting into a place where we’re more unusual. This was a very good idea. I wish we had done it on purpose.” —Charlie Munger