Some notable quotes from Charlie Munger at the recent Daily Journal Annual Meeting:
1) If it’s gone down this much already, it can’t get any lower.
2) No Debt
3) If it’s gone this high already, how can it possibly go higher.
4) Eventually they always come back
5) It’s $3, how much can I lose.
6) It’s always darkest before the dawn.
7) When I rebound to 10, I’ll sell.
8) I don’t have to worry, I own conservative stocks.
9) Look at all the money I lost, because I didn’t buy.
10) Stock has gone up I must be correct, it gone down I must be wrong.
11) Avoid long shots
Charlie Munger is an American investor, businessman, former real estate attorney, architectural designer, and philanthropist. He is vice chairman of Berkshire Hathaway, the conglomerate controlled by Warren Buffett.