May 7, 2010

Buffett and Munger are from Venus; (most of) Wall Street is from Mars: Corporate Culture and Equity Valuation

Here is the second installment of Buffett and Munger “nuggets.” Remember these are culled from our Berkshire Hathaway 2010 Meeting notes and those of the Inoculated Investor. Two more nuggets from Buffett are:

“It’s much easier to build a corporate culture from scratch than try to change an existing culture.”

“I could not determine what Harley Davidson’s equity is worth, but I do like a business where people tattoo the name of it on their chests. I knew enough to lend the company money in the credit crisis, but not to buy the equity.”