Quite a Quote!

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Charlie Munger: Profit sitting in the yard

“We tend to prefer the business which drowns in cash. It just makes so much money that one of the main principles of owning it is you have all this cash coming in. There are other businesses, like the construction equipment business of my old friend John Anderson. And he used to say about his business ‘You work hard all year, and at the end of the year there’s your profit sitting in the yard.’ There was never any cash. Just more used construction equipment. We tend to hate businesses like that.”
–Charlie Munger.

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LINUS FERNANDES
I have been an IT professional with over 12 years professional experience. I’m a B.Sc. in Statistics, M.Sc in Computer Science (University of Mumbai) and an MBA from the Cyprus International Institute of Management. I have completed levels I and II of the CFA course. Blogging is a part-time vocation. I am also the author of four books, Those Glory Days: Cricket World Cup 2011, IPL Vignettes, Poems: An Anthology, and It’s a Petting Sport—all available on Amazon Worldwide.