As a follow-up to the post about the Daily Journal Holdings
becoming public (HERE),
here’s a comment from Charlie Munger about POSCO at the 2007
Wesco Annual Meeting:
I would argue that what POSCO does is not a commodity business at all – it’s a high-tech business. They learned from Nippon Steel and they’re now even more advanced. I’d argue that if you have the most technologically advanced steel company in the world making unusual, [non-commodity] stuff, then business can be quite attractive for a long time.