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Charlie Munger Quotes
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Text Quotes
Choose clients as you would friends (Charlie Munger Quotes)
I won’t bet $100 against house odds between now and the grave (Charlie Munger Quotes)
When you mix raisins and turds, you’ve still got turds (Charlie Munger Quotes)
People calculate too much and think too little (Charlie Munger Quotes)
Acknowledging what you don’t know is the dawning of wisdom (Charlie Munger Quotes)
Those who keep learning, will keep rising in life (Charlie Munger Quotes)
The safest way to get what you want is to deserve what you want (Charlie Munger Quotes)
Intelligent people make decisions based on opportunity costs (Charlie Munger Quotes)
Mimicking the herd invites regression to the mean (Charlie Munger Quotes)
Deliver to the world what you would buy if you were on the other end (Charlie Munger Quotes)
A lot of our respected financial institutions are just casinos in drag (Charlie Munger Quotes)
If it happens every year like clockwork, what’s so extraordinary about it (Charlie Munger Quotes)
Avoid evil, particularly if they’re attractive members of the opposite sex (Charlie Munger Quotes)
An idea or a fact is not worth more merely because it’s more available to you (Charlie Munger Quotes)
My idea of a good place to shop is Costco - it has these heavily marbled fillet steaks. The idea of eating some wheat thing and washing it down with carrot juice has never appealed to me (Charlie Munger Quotes)
It’s human nature to extrapolate the recent past into the future, but it’s terrible that managements go along with this (Charlie Munger Quotes)
We have the same problem as everyone else: It’s very hard to predict the future (Charlie Munger Quotes)
If we mix only a moderate minority share of turds with the raisins each year, probably no one will recognize what will ultimately become a very large collection of turds (Charlie Munger Quotes)
It’s a rare business that doesn’t have a way worse future than it has a past (Charlie Munger Quotes)
If you have the opportunities of Berkshire, an investment in gold is dumb (Charlie Munger Quotes)
Our biggest mistakes, were things we didn’t do, companies we didn’t buy (Charlie Munger Quotes)
Kellogg’s and Campbell’s moats have also shrunk due to the increased buying power of supermarkets and companies like Wal-Mart. The muscle power of Wal-Mart and Costco has increased dramatically (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 (Charlie Munger Quotes)
We have found in a long life that one competitor is frequently enough to ruin a business (Charlie Munger Quotes)
There’s more honor in investment management than in investment banking (Charlie Munger Quotes)
Those who will not face improvements because they are changes, will face changes that are not improvements (Charlie Munger Quotes)
You have to know accounting. It’s the language of practical business life. It was a very useful thing to deliver to civilization. I’ve heard it came to civilization through Venice which of course was once the great commercial power in the Mediterranean. However, double entry bookkeeping was a hell of an invention (Charlie Munger Quotes)
All intelligent investing is value investing - acquiring more that you are paying for. You must value the business in order to value the stock (Charlie Munger Quotes)
We both (Charlie Munger and Warren Buffett) insist on a lot of time being available almost every day to just sit and think. That is very uncommon in American business. We read and think (Charlie Munger Quotes)
You need a different checklist and different mental models for different companies. I can never make it easy by saying, ‘Here are three things.’ You have to derive it yourself to ingrain it in your head for the rest of your life (Charlie Munger Quotes)