Charlie Munger Said He'd 'Go Crazy' Taking Elon Musk's Risks, But Admitted Missing Out On Tesla, Amazon, And 'Extreme Talents' Like Musk, Bezos

When Berkshire Hathaway Inc (NYSE: BRK-A) (NYSE: BRK-B) bought See's Candies in 1972, the firm’s late vice chairman, Charlie Munger, learned a valuable lesson that would end up guiding his investing career.

The company raised prices without hurting sales, and Munger learned that you can get a bargain paying full price for a beloved brand.

Following the deal, Munger and Berkshire chairman and CEO Warren Buffett began looking for companies selling for fair prices that had loyal customer bases. In their early days, Amazon.com Inc (NASDAQ: AMZN) and Tesla Inc(NASDAQ: TSLA) didn’t fit the bill.

Check This Out: If Warren Buffett Had Used This Common Practice, Charlie Munger Says Berkshire Hathaway’s ...

Full story available on Benzinga.com