Charlie Munger, Daily Journal Chairman and Berkshire Hathaway Vice Chairman, gives his take on value investing.

Video Transcript

CHARLIE MUNGER: Value investing, the way I regard it, will never go out of style. Because value investing, the way I conceive of it, is always wanting to get more value than you pay for when you buy a stock. And that approach will never go out of style.

Some people think that value investing is you chase companies which have a lot of cash and they're a lousy business or something. But I don't define that as value investing. I think all good investing is value investing. It's just that some people look for values in strong companies and some look for values in weak companies.