Charlie Munger is known for his simplistic view of the investing world that has one advantage over all other views; it works, and he has a longer than 50-year track record with a 19% annual return to back his statements. His view on investing is simple and can be synthetized by the following quote: “It’s obvious that if a company generates high returns on capital and reinvests at high returns, it will do well. But this wouldn’t sell books, so there’s a lot of twaddle and fuzzy concepts that have been introduced that don’t add much.” Modern Value Investing Sven Carlin