Charlie Munger Quotes

Top 100 wise famous quotes and sayings by Charlie Munger

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Charlie Munger quotes: The tax code gives you an enormous advantage if you can find some things you can just sit with. The tax code gives you an enormous advantage if you can find some things you can just sit with.
Charlie Munger quotes: It takes character to sit there with all that cash and do nothing. I didn't get to where I am by going after mediocre opportunities. It takes character to sit there with all that cash and do nothing. I didn't get to where I am by going after mediocre opportunities.
Charlie Munger quotes: Determine value apart from price; progress apart from activity; wealth apart from size. Determine value apart from price; progress apart from activity; wealth apart from size.
Charlie Munger quotes: We have a high moral responsibility to be rational We have a high moral responsibility to be rational
Charlie Munger quotes: The best thing a human being can do is to help another human being know more. The best thing a human being can do is to help another human being know more.
Charlie Munger quotes: It's not greed that drives the world, but envy. It's not greed that drives the world, but envy.
Charlie Munger quotes: Berkshireis not as good as it was in terms of percentage compounding [going forward], but it's still a hell of a business. Berkshireis not as good as it was in terms of percentage compounding [going forward], but it's still a hell of a business.
Charlie Munger quotes: How do you compete against a true fanatic? You can only try to build the best possible moat and continuously attempt to widen it. How do you compete against a true fanatic? You can only try to build the best possible moat and continuously attempt to widen it.
Charlie Munger quotes: The game of life is the game of everlasting learning. At least it is if you want to win. The game of life is the game of everlasting learning. At least it is if you want to win.
Charlie Munger quotes: Most people are too fretful, they worry to much. Success means being very patient, but aggressive when it's time. Most people are too fretful, they worry to much. Success means being very patient, but aggressive when it's time.
Charlie Munger quotes: For years I have read the morning paper and harrumphed. There's a lot to harrumph about now. For years I have read the morning paper and harrumphed. There's a lot to harrumph about now.
Charlie Munger quotes: Is there such thing as a cheerful pessimist? That's what I am. Is there such thing as a cheerful pessimist? That's what I am.
Charlie Munger quotes: The only intelligence investing is value investing ... to acquire more than one is paying for. The only intelligence investing is value investing ... to acquire more than one is paying for.
Charlie Munger quotes: Assume life will be really tough, and then ask if you can handle it. If the answer is yes, you've won. Assume life will be really tough, and then ask if you can handle it. If the answer is yes, you've won.
Charlie Munger quotes: Warren spends 70 hours a week thinking about investing . Warren spends 70 hours a week thinking about investing .
Charlie Munger quotes: The big money is not in the buying and selling ... but in the waiting. The big money is not in the buying and selling ... but in the waiting.
Charlie Munger quotes: Intense interest in any subject is indispensable if you're really going to excel in it. Intense interest in any subject is indispensable if you're really going to excel in it.
Charlie Munger quotes: I don't think vengeance is much good. I don't think vengeance is much good.
Charlie Munger quotes: Wall Street has too much wealth and political power. Wall Street has too much wealth and political power.
Charlie Munger quotes: See's candy company was the first high-quality business we ever bought. See's candy company was the first high-quality business we ever bought.
Charlie Munger quotes: It's dishonourable to stay stupider than you need to be It's dishonourable to stay stupider than you need to be
Charlie Munger quotes: I don't spend much time regretting the past, once I've taken my lesson from it. I don't dwell on it. I don't spend much time regretting the past, once I've taken my lesson from it. I don't dwell on it.
Charlie Munger quotes: If you skillfully follow the multidisciplinary path, you will never wish to come back. It would be like cutting off your hands. If you skillfully follow the multidisciplinary path, you will never wish to come back. It would be like cutting off your hands.
Charlie Munger quotes: The only way to win is to work, work, work, work, and hope to have a few insights The only way to win is to work, work, work, work, and hope to have a few insights
Charlie Munger quotes: The laws of thermodynamic s are such that if the water is getting warmer - and I believe it is - the energy of the weather is going to go The laws of thermodynamic s are such that if the water is getting warmer - and I believe it is - the energy of the weather is going to go up.
Charlie Munger quotes: Wrigley is a great business, but that doesn't solve the problem. Buying great businesses at advantageous prices is very tough. Wrigley is a great business, but that doesn't solve the problem. Buying great businesses at advantageous prices is very tough.
Charlie Munger quotes: The interesting thing is the field is so big - it's enormous. One thing a modern civilization needs is energy. The interesting thing is the field is so big - it's enormous. One thing a modern civilization needs is energy.
Charlie Munger quotes: There must be some wisdom in the folk saying: Its the strong swimmers who drown. There must be some wisdom in the folk saying: Its the strong swimmers who drown.
Charlie Munger quotes: Understanding both the power of compound interest and the difficulty of getting it is the heart and soul of understanding a lot of things. Understanding both the power of compound interest and the difficulty of getting it is the heart and soul of understanding a lot of things.
Charlie Munger quotes: I think corporate managers should learn to be better investors because it would make them better managers. I think corporate managers should learn to be better investors because it would make them better managers.
Charlie Munger quotes: Using volatility as a measure of risk is nuts. Risk to us is 1) the risk of permanent loss of capital, or 2) the risk of inadequate return. Using volatility as a measure of risk is nuts. Risk to us is 1) the risk of permanent loss of capital, or 2) the risk of inadequate return.
Charlie Munger quotes: Great investing requires a lot of delayed gratification. Great investing requires a lot of delayed gratification.
Charlie Munger quotes: How you behave in one place, will help in surprising ways later. How you behave in one place, will help in surprising ways later.
Charlie Munger quotes: What good is envy? It's the one sin you can't have any fun at. What good is envy? It's the one sin you can't have any fun at.
Charlie Munger quotes: You have a real asset-price bubble in places like parts of California and the suburbs of Washington, D.C. You have a real asset-price bubble in places like parts of California and the suburbs of Washington, D.C.
Charlie Munger quotes: I never allow myself to have an opinion on anything that I don't know the other side's argument better than they do. I never allow myself to have an opinion on anything that I don't know the other side's argument better than they do.
Charlie Munger quotes: We tend to buy things - a lot of things - where we don't know exactly what will happen, but the outcome will be decent. We tend to buy things - a lot of things - where we don't know exactly what will happen, but the outcome will be decent.
Charlie Munger quotes: The investment game is getting more and more competitive. The investment game is getting more and more competitive.
Charlie Munger quotes: Avoid evil, particularly if they're attractive members of the opposite sex. Avoid evil, particularly if they're attractive members of the opposite sex.
Charlie Munger quotes: How could economics not be behavioral? If it isn't behavioral, what the hell is it? How could economics not be behavioral? If it isn't behavioral, what the hell is it?
Charlie Munger quotes: Once you get into debt, it's hell to get out. Don't let credit card debt carry over. You can't get ahead paying eighteen percent. Once you get into debt, it's hell to get out. Don't let credit card debt carry over. You can't get ahead paying eighteen percent.
Charlie Munger quotes: It's a good habit to trumpet your failures and be quiet about your successes. It's a good habit to trumpet your failures and be quiet about your successes.
Charlie Munger quotes: The first chance you have to avoid a loss from a foolish loan is by refusing to make it; there is no second chance. The first chance you have to avoid a loss from a foolish loan is by refusing to make it; there is no second chance.
Charlie Munger quotes: Just avoid things like racing trains to the crossing, doing cocaine, etc. Develop good mental habits. Just avoid things like racing trains to the crossing, doing cocaine, etc. Develop good mental habits.
Charlie Munger quotes: A director who gets $150,000 per year from a company and needs the money is not independent. A director who gets $150,000 per year from a company and needs the money is not independent.
Charlie Munger quotes: I would argue that a majority of the horrors we face would not have happened if the accounting profession developed and enforced better accounting. I would argue that a majority of the horrors we face would not have happened if the accounting profession developed and enforced better accounting.
Charlie Munger quotes: It's not supposed to be easy. Anyone who finds it easy is stupid. It's not supposed to be easy. Anyone who finds it easy is stupid.
Charlie Munger quotes: You've got to have models in your head and you've got to array you experience - both vicarious and direct - onto this latticework of mental models. You've got to have models in your head and you've got to array you experience - both vicarious and direct - onto this latticework of mental models.
Charlie Munger quotes: Capitalism is a pretty brutal place. Capitalism is a pretty brutal place.
Charlie Munger quotes: You must value the business in order to value the stock. You must value the business in order to value the stock.
Charlie Munger quotes: A lot of success in life and business comes from knowing what you want to avoid: early death, a bad marriage, etc. A lot of success in life and business comes from knowing what you want to avoid: early death, a bad marriage, etc.
Charlie Munger quotes: We try more to profit from always remembering the obvious than from grasping the esoteric. We try more to profit from always remembering the obvious than from grasping the esoteric.
Charlie Munger quotes: Our biggest mistakes, were things we didn't do, companies we didn't buy. Our biggest mistakes, were things we didn't do, companies we didn't buy.
Charlie Munger quotes: Just keep your head down and do your best. Just keep your head down and do your best.
Charlie Munger quotes: Don't confuse correlation and causation. Almost all great records eventually dwindle ... Don't confuse correlation and causation. Almost all great records eventually dwindle ...
Charlie Munger quotes: I don't invest in what I don't understand. And I don't want to understand Facebook. I don't invest in what I don't understand. And I don't want to understand Facebook.
Charlie Munger quotes: No wise pilot, no matter how great his talent and experience, fails to use his checklist. No wise pilot, no matter how great his talent and experience, fails to use his checklist.
Charlie Munger quotes: It's a rare business that doesn't have a way worse future than it has a past. It's a rare business that doesn't have a way worse future than it has a past.
Charlie Munger quotes: Litigation is notoriously time-consuming, inefficient, costly and unpredictable. Litigation is notoriously time-consuming, inefficient, costly and unpredictable.
Charlie Munger quotes: Whoever makes you smarter a little earlier in life makes you better Whoever makes you smarter a little earlier in life makes you better
Charlie Munger quotes: There's more honor in investment management than in investment banking. There's more honor in investment management than in investment banking.
Charlie Munger quotes: If mutual fund directors are independent, then I'm the lead character in the Bolshoi Ballet. If mutual fund directors are independent, then I'm the lead character in the Bolshoi Ballet.