Category Archives: Quotes

Every business is manmade

“Every business is manmade. It is a result of individuals. It reflects the personalities and the business philosophy of the founders and those who have directed its affairs throughout its existence. If you want to have an understanding of any business, it is important to know the background of the people who started it and directed its past and the hopes and ambitions of those who are planning its future.”- – Thomas Rowe Price Jr

What is the magazine business?

What is the magazine, business? It is a business where our main, activity is
chopping down millions and millions of trees, flattening the pulp and printing
hieroglyphics and images on both sides of it. Then we send the end product
out in diesel-guzzling trucks to shops where perhaps 60 per cent of them
sell to customers. We then pile the remaining, unsold magazines into more
diesel-guzzling trucks and take them to a plant where they are either
consumed as fuel, buried or shredded, or used to make cardboard boxes for
refrigerators. That’s the magazine business.-Felix Dennis

What Raghuram Rajan thinks of the markets

“Six years since the financial crisis, central banks still have their foot fully on the accelerator . . . [pushing] credit into emerging markets,” he says. “We don’t know how this will end . . .  It may end smoothly, if we let the air out of these inflated markets slowly, or by a series of mini-crises. But it may be more dramatic if, one fine day, suddenly the world realises the US is going to raise interest rates quite quickly . . . then the air will go out much faster.”-from FT

Charlie Munger answers the Q:How to get rich?

A young shareholder asked Munger how to follow in his footsteps, and Munger brought down the house by saying, “We get these questions a lot from the enterprising young. It’s a very intelligent question: You look at some old guy who’s rich and you ask, ‘How can I become like you, except faster?’”

Munger’s reply was: “Spend each day trying to be a little wiser than you were when you woke up. Discharge your duties faithfully and well. Step by step you get ahead, but not necessarily in
fast spurts. But you build discipline by preparing for fast spurts… Slug it out one inch at a time, day by day, at the end of the day — if you live long enough — most people get what they deserve.”