"Well, EVA, of course, is very popular because at least it talks about how you get a high return on capital and points out that shareholders are enormously benefited if you manage to get a high return on capital and if you can reinvest at that high return for a very long time. But if you stated it the way I’ve just stated it, you couldn’t sell any books. So you have to dress up the elementary idea with a lot of twaddle, copyright the twaddle and sell it to various people at high prices per hour – making it worse by introducing fuzzy concepts that don’t really work, like a cost of capital concept that makes no true economic sense."
— Charlie Munger
If anyone has a source for this quote please let me know.