> Warren Buffett Blog: Warren Buffett on Charles Munger advise

Monday, July 21, 2014

Warren Buffett on Charles Munger advise

More than 50 years ago, Charlie [Munger] told me that it was far better to buy a wonderful business at a fair price than to buy a fair business at a wonderful price. Despite the compelling logic of his position, I have sometimes reverted to my old habit of bargain-hunting, with results ranging from tolerable to terrible.