Charlie Munger's mental-model upgrade to Buffett - 'a wonderful business at a fair price beats a fair business at a wonderful price.' Munger raised Buffett's quality floor (ROIC 18%+ vs 15%) and relaxed Buffett's valuation floor (P/E up to 30 vs 12). The result: a checklist that finds businesses Buffett would call 'too expensive' but that compound for decades.
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From Poor Charlie's Almanack and 50+ years of Berkshire Hathaway AGM speeches.
Strong Munger fit - wonderful business, durable returns, willing to pay up. 8/11 criteria met.
Strong Munger fit - wonderful business, durable returns, willing to pay up. 10/11 criteria met.
Strong Munger fit - wonderful business, durable returns, willing to pay up. 6/11 criteria met.
Warren Buffett
Grandes empresas a preço justo
Ver todas as ações Fit Warren BuffettBenjamin Graham
Investimento deep-value defensivo
Ver todas as ações Fit Benjamin GrahamPhilip Fisher
Growth-quality + scuttlebutt qualitativo
Ver todas as ações Fit Philip FisherPeter Lynch
Growth at a reasonable price (GARP)
Ver todas as ações Fit Peter Lynch