I read with great interest a recent article in the Wall Street Journal which describes long-time Warren Buffet colleague (and business partner with Berkshire Hathaway) Charlie Munger’s final few years.
Munger died two years ago just weeks shy of his 100th birthday. Even at that advanced age, Munger remained actively involved in evaluating business and advising others of the same. While there is much to learn from Munger’s approach to business (and to life in general) one thought stands out: Focus on what is working best.
When asked about Berkshire Hathaway’s extraordinary success over a long period of time, Munger had this to say, “Take out Berkshire’s top five investments and its returns are pretty middling,” stressing that success is often found by focusing relentlessly on “the relevant few” while minimizing time spent on “the trivial many.”
Read the rest of this story on Printing Impressions, a publication of PRINTING United Alliance, ASI’s strategic partner.
