By investors I mean superinvestors or money managers. And, Mungerism is just a way coined by many managers. It refers to holding company for prolonged period of time, the only selling point was change in competitive landscape or egregious valuations or better opportunity. As you said, value investors tend to buy 50 cents dollar bills and sells when it reaches 90 cents. Now, philosophy has been shifted, they even pay more than 100 cents and wont even sell it at 200 or 300 cents.
Plus, as we know, Munger is the best philosopher of 20th century. His mental models are not only for investing, but they are for life outside investing.
So people started to coin the term, Mungerism for dear life and investing!
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