1/ When Geico first began using search advertising for customer acquisition, each new lead cost about $2. Late-night cable television advertising was at $30 per customer. Using P/E ratios to value Google is like using a pickle to remove a kidney stone. bloomberg.com/opinion/articl…
2/ Munger said he and Buffett saw how great search engine optimization was used in its Berkshire-owned GEICO and "we just sat there sucking our thumbs....I don't mind not having caught Amazon early. I feel like a horse's ass for not identifying Google earlier ... We screwed up."
3/ Link in first tweet should be: ritholtz.com/2020/02/transc…
Second link: google.com/amp/s/mobile.r…
"Charlie Munger: "We failed you [on Google]. We were smart enough to do it and we didn’t.”
"It’s a very good thing that Warren bought Apple. I prefer to think he’s learning.”
Second link: google.com/amp/s/mobile.r…
"Charlie Munger: "We failed you [on Google]. We were smart enough to do it and we didn’t.”
"It’s a very good thing that Warren bought Apple. I prefer to think he’s learning.”
