I’ve never been able to predict accurately. I don’t make money predicting accurately. We just tend to get into good businesses and stay there.

However, the one thing he can predict is that the stock market will have moments of wild exuberance and high stock prices, usually followed by bouts of severe depression and much lower stock prices. Can he predict with accuracy when these events will happen? No. But he does know they will happen - he just has to have the patience to let them happen.

- <THE TAO OF CHARLIE MUNGER>

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찰리 멍거도 못하는 시장 예측을

공부 며칠하고 떠들어대는 이들은 천재란 말인가.