Charlie Munger

No, only the little ones. Only the little ones, oh. Yeah, the big ones were less, 30 or 40 or 20, 500.

No, only the little ones. Only the little ones, oh. Yeah, the big ones were less, 30 or 40 or 20, 500.

What were you thinking? Well, I've never liked John Malone's extreme manipulations. I don't want to be known as the great manipulator like John Malone is. He paid less income taxes than anybody. He just pushed everything to the dry lodge of the stream.

What were you thinking? Well, I've never liked John Malone's extreme manipulations. I don't want to be known as the great manipulator like John Malone is. He paid less income taxes than anybody. He just pushed everything to the dry lodge of the stream.

Well, there are a lot of great companies. So Hermes is a great company. In its heyday, General Motors was a great company. It just gradually went to hell one contract at a time.

Well, there are a lot of great companies. So Hermes is a great company. In its heyday, General Motors was a great company. It just gradually went to hell one contract at a time.

I think most places have a lot of change and threat in their future.

I think most places have a lot of change and threat in their future.

There's a difference. Some of what I call a specialized industrial company, and Berkshire has a lot of them. We have a lot of companies that are quite insulated from really tough competition. Just because they've been so long and they're so good at what they do and they have a good reputation and high value and so on and so on.

There's a difference. Some of what I call a specialized industrial company, and Berkshire has a lot of them. We have a lot of companies that are quite insulated from really tough competition. Just because they've been so long and they're so good at what they do and they have a good reputation and high value and so on and so on.

Well, I think a lot of companies are pretty good, but you can't confidently say what's going to happen because you may get some guy like Iger in that just wants to push everything and do the right public relations. So no matter how good the business is, it'll be kind of phony.

Well, I think a lot of companies are pretty good, but you can't confidently say what's going to happen because you may get some guy like Iger in that just wants to push everything and do the right public relations. So no matter how good the business is, it'll be kind of phony.

Well, of course, you've got to get along with everybody. You've got to help them through their tough times and they help you and so forth.

Well, of course, you've got to get along with everybody. You've got to help them through their tough times and they help you and so forth.

But I think it's not as hard as it looks. I think half of the marriages in America work pretty damn well. And would it work just as well if both of us had to marry somebody else, by the way?

But I think it's not as hard as it looks. I think half of the marriages in America work pretty damn well. And would it work just as well if both of us had to marry somebody else, by the way?

Yeah, sure.

Yeah, sure.

And you've got to have trust with your spouse when it comes to things like education of the children and so forth.

And you've got to have trust with your spouse when it comes to things like education of the children and so forth.