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“When someone takes their existing business and tries to transform it into something else - they fail. In technology that is often the case. Look at Kodak: it was the dominant imaging company in the world. They did fabulously during the great depression, but then wiped out the shareholders because of technological change.”
Charlie Munger“The perfect example of Darwinism is what technology has done to businesses.”
Charlie Munger“There's more honor in investment management than in investment banking.”
Charlie Munger“I've adopted the guideline of Warren Buffett's partner, Charlie Munger, who says "I wanna know where I'll be when I die - so I never go there.”
Tom Brokaw