"We do get approached when somebody has a takeover bid. They say, 'Would you like to top it or something?' To which our answer, invariably, is no." Buffett
"Well, we're very good at saying no." Munger
"Charlie's even better than I am." Buffett
"By no means have we given up on putting our cash to work. If we don’t, the money isn't going away."
"At some price, we’d buy back Berkshire. We’re not looking for the chance to gleefully buy out shareholders at a substantial discount to value." (2005) https://d2wsh2n0xua73e.cloudfront.net/wp-content/uploads/2014/05/Charlie-Munger-2005-2013-minus-Harvard-Westlake.pdf …
Munger: "Our problem in finding investments is people are willing to pay higher prices than we are."
Buffett: "You can turn any investment into a bad deal by paying too much. What you can’t do is turn any investment into a good deal by paying a cheap price." 2019 BRK AGM
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