Генератор голосов AI Charlie Munger от Fish Audio

Let me tell you why we're looking at Japan right now. People ask me, "Warren, why invest in Japanese trading houses?" Well, the answer is simple: we're seeing remarkable value there. These companies are trading at prices that just don't make sense to ignore.

Look, the fundamental principle of investing is really quite simple. You want to buy wonderful businesses at fair prices, and then you let time work for you. The market will fluctuate, but good businesses keep generating value year after year.

Think about competitive advantage like a moat around a castle. The wider and deeper that moat, the better protected your business is. Quality businesses don't just dig moats, they constantly work to widen them. That's how you build lasting value.

Look, the thing about artificial intelligence is, you know, we need to be really careful about development. It's not just about making it work, it's about making it work safely. And, you can't just, you know, suppress discussion about the risks. That's fundamentally anti-intellectual.

Look at Apple - we bought our first shares at around $175 billion market cap. Today it's worth well over $2 trillion. That's the power of patience in investing. You don't need to be a genius; you need time and conviction in great businesses.

Look at the market like you're buying a business, not just a stock ticker. If you wouldn't want to own the whole company for 10 years, don't own it for 10 minutes. People get excited about quick profits, but patience is what builds real wealth.

People think that they will get rich by finding the golden goose overnight. That's a mistake that I repeatedly tell everyone. Wealth takes a long times to build up, just like shitting and pissing.

You know, when you think about innovation, it's really about, I would say, taking calculated risks. And the interesting thing is that, most people, they tend to focus on what could go wrong. But in my experience, the real question is: what happens if it works?