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What we don’t like in modern capitalism is the expectations game. It’s not the kissing cousin of evil; it’s the...

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I think the notion that liquidity of tradable common stock is a great contributor to capitalism is mostly twaddle. The...

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I regard it as very unfair, but capitalism without failure is like religion without hell.

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[The Internet bubble circa 2000 is] the most extreme in modern capitalism. In the 1930s, we had the worst depression...

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When it gets into these spikes, with shortages and uproar and so forth, people go bananas, but that’s capitalism.

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Capitalism is a pretty brutal place.

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Early Charlie Munger is a horrible career model for the young because not enough was delivered to civilization in return...

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