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Charlie Munger Speaks

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Quotes

What was that again?

Three basic principles for macro investing:God is dead, life is absurd and there are no rules. In other words, you are on your own and you must take ownership of your own destiny.-Hugh Hendry in his letter to investors

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What was that again?

“Escalating social and political risks, slowing growth and rising inflation mean that we are already in a macro environment that would hurt both stock and bond returns. Stocks first and bonds next. Dance near the door, if you still want to party.”-V Anantha Nageswaran , Senior Economist at Asianomics wrote in  Mint

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What was that again?

“The balance sheets of all banks in 2012 are weaker than in 2008. The banking sector as a whole today is less liquid, less profitable, less stable, less sound and with poorer asset quality as compared with 2008 and the recent past”-Haseeb Drabu , former CEO, J&K Bank said in an article in Mint

 

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What was that again?

“We stay away from places that have impossible governments and impossible tax regimes, which means Sayonara to India.”-David Bonderman, founding partner of TPG Capital said at a Milken Institute conference in Los Angeles on a panel of private equity investors