Hints and tips:
...They think I’m a book with a couple of legs sticking out.” “It’s so simple. You spend less than you earn....
...I’m a dyed-in-the-wool Brit and wouldn’t live anywhere else....
...Munger first met Buffett in 1959 and joined Berkshire Hathaway’s board in 1978. Read more about Munger’s life and legacy....
...He had been JPMorgan’s co-head of Emea M&A and co-head of its global strategic investor group M&A. Blackstone has hired Dan Leiter as international head of the firm’s credit and insurance business....
...Li’s drive impressed Munger. “I’m not interested in revolution,” he says. “I’m a capitalist. It was his capitalist aptitude that attracted me, not his revolutionary history.”...
...While Munger was impressed with Wang’s engineering skills, experts attribute BYD’s success largely to a ruthless culture of cost-cutting....
...I’m not sure....
...In this same vein, I’m convinced that so-called natural interest rates lead to the best overall allocation of capital. Natural rates reflect supply and demand for money....
...I’m isabel.berwick@ft.com. (You can be anonymous if you want.)...
...Now I’m closing the loop, replying to his reply. Khosrowshahi makes three points and I’m sympathetic to two of them....
...[MUSIC PLAYING] Before we go, the vice-chair of Berkshire Hathaway, Charlie Munger, died yesterday. He was 99 years old....
...Ethan WuRIP to Mr Munger. Rob, I’m short things being partially broken. I think things should either be broken or not broken. When they’re stuck in between, it’s very annoying....
...Berkshire Hathaway’s future: Following the death of vice-chair Charlie Munger, investors contemplate how the conglomerate will perform without Warren Buffett’s sounding board....
...Freshfields Bruckhaus Deringer has hired M&A lawyers Noah Carr and Gordon Palmquist as partners in Tokyo. They join from Latham & Watkins and Mayer Brown, respectively....
...Bad loans and astrologers: Charlie Munger tells all Charlie Munger has long been known as an outspoken critic of investment banks, private equity firms and the wider financial sector....
...Apoorva Shah, a senior banker in BNP Paribas’s UK M&A team, has left the company....
...In today’s newsletter: M&A tries to chart a US comeback Charlie Munger’s bet on Alibaba The rise and fall of a Chinese aluminium empire Is M&A back in the US?...
...I’m holding a high proportion of cash, though somewhat less than $150bn). But realists can only pursue this approach to a limited degree....
...But call it The Munger Company....
...The genius of Warren Buffett and Charlie Munger is very great and proven by their historical record....
...Munger warned that American banks are, quote, “full of bad loans as property prices fall”....
...Don’t miss: “Person in the news” — Jim Herbert, founder of First Republic Here’s what else I’m keeping tabs on today: May Day: Financial markets in the UK, France, Germany, South Africa, Switzerland and...
...Berkshire Hathaway vice-chair Charlie Munger warned last month of “agony” in the office market and the risk from bad property loans....
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