Oct
4
“It’s also a little surprising that people stuck with name brand gum, which presumably charged a price premium - the explanation may lie in an observation Charlie Munger once made about another big gum maker:“I may see Wrigley chewing gum alongside Glotz’s chewing gum. Well, I know that Wrigley is a satisfactory product, whereas I don’t know anything about Glotz’s. So if one is 40 cents and the other is 30 cents, am I going to take something I don’t know and put it in my mouth—which is a pretty personal place, after all—for a lousy dime?”
News from 1930: Company Case Study 1
