Charlie Munger’s Cancer Surgery Formula

Sometimes, even the best businesses lose their way. Companies like General Electric, which was once a giant of American industry, has flopped in recent years. It has been hamstrung by underperforming businesses and high levels of debt. Q1 2020 hedge fund letters, conferences and more Efforts to turn around struggling businesses generally yield mixed results. It takes a skilled manager to turnaround a struggling enterprise. Even then, there’s no guarantee bringing in the right people will yield desirable results. As Warren Buffett once said: “Our conclusion is that, with few exceptions, when a management with a reputation for brilliance tackles…