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1/ "They arrived at 10 a.m. And by 11 we had a deal. And they had us committed unequivocally, come hell or high water, for $10 billion." google.com/amp/s/www.cnbc…
Munger: “We’re guessing at our future opportunity cost. Warren is guessing that he’ll have the opportunity to put capital out at high rates of return... Our hurdles reflect our estimate of future opportunity costs.” google.com/amp/s/25iq.com…
WB: “The trouble isn’t that we don’t have [a hurdle rate] – we sort of do – but it interferes with logical comparison. If I know I have something that yields 8% for sure, and something else came along at 7%, I’d reject it instantly. Everything is a function of opportunity cost.”
