cho, page-80

Gentlemen,
The BBC ran a series on Warren Buffett and did extensive interviews with Bill Gates & Charlie Munger.
Charlie Munger, through is usual candid self provides the basis of rational we as investors should maintain.

This man is probably the smartest human on earth, without doubt and can seperate emotional "human folly" to rational based investing. One of the best lines I have heard as said by Mr Munger to a question regarding experiencing short term setbacks due to market movement:

"You can argue that if you’re not willing to react with equanimity to a market price decline of fifty percent two or three times a century, you’re not fit to be a common shareholder and you deserve the mediocre result that you’re going to get."

Enough said, really!