peter-drucker-culture-legal-systems-united-statesare-especially-favorable

I agree with Peter Drucker that the culture and legal systems of the United Statesare especially favorable to shareholder interests, compared to other interests and compared to most other countries. Indeed, there are many other countries where any good going to public shareholders has a very low priority and almost every other constituency stands higher in line.

Charlie Munger
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Charlie Munger's Popular Quotes

I don't have too much interest in teaching other people how to get rich. And that isn't because I fear the competition or anything like that - Warren…

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We don't have any miraculous way of avoiding taxes at Wesco and Berkshire.

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You don't have to be brilliant, only a little bit wiser than the other guys, on average, for a long, long, time.

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Knowing what you don't know is more useful than being brilliant.

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For years I have read the morning paper and harrumphed. There's a lot to harrumph about now.

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The big money is not in the buying and selling ... but in the waiting.

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It is remarkable how much long-term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very intell…

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Opportunity comes to the prepared mind.

- Charlie Munger

Those who will not face improvements because they are changes, will face changes that are not improvements.

- Charlie Munger
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