Business Quotes by Charlie Munger

You must value the business in order to value the stock.

— Charlie Munger

If the value of a company doesn't just scream out at you, it's too close.

— Charlie Munger

Investing is where you find a few great companies and then sit on your ass.

— Charlie Munger

It's a rare business that doesn't have a way worse future than it has a past.

— Charlie Munger

If you can buy the best companies, over time the pricing takes care of itself.

— Charlie Munger

Almost all good businesses engage in 'pain today, gain tomorrow' activities.

— Charlie Munger

A director who gets $150,000 per year from a company and needs the money is not independent.

— Charlie Munger

Understanding how to be a good investor makes you a better business manager and vice versa.

— Charlie Munger

If all you needed to do is to figure out what company is better than others, everyone would make a lot of…

— Charlie Munger

It took us months of buying all the Coke stock we could to accumulate $1 billion worth - equal to 7% of…

— Charlie Munger

Wells Fargo had a glitch - the truth of the matter is they made a business judgement that was wrong. I don't…

— Charlie Munger

What matters most: passion or competence that was born in? Berkshireis full of people who have a peculiar passion for their own…

— Charlie Munger

I love when I think we're taking territory - if it makes sense in the long term, we just don't give a…

— Charlie Munger

In the LBO field there is a buried "covariance" with marketable equities, toward disaster in generally bad business conditions, and competition is…

— Charlie Munger

It would be easier to screw up American Express than Coke or Gillette, but it's an immensely strong business.

— Charlie Munger

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

there are all kinds of wonderful new inventions that give you nothing as owners except the opportunity to spend a lot more…

— Charlie Munger

If the technology hadn't changed, they [newspapers] would still be great businesses. Network TV [in its heyday], anyone could run and do…

— Charlie Munger

Some years ago one oil company bought a fertilizer company, and every other major oil company practically ran out and bought a…

— Charlie Munger

One metric catches people. We prefer businesses that drown in cash. An example of a different business is construction equipment. You work…

— Charlie Munger

The number one idea is to view a stock as an ownership of the business and to judge the staying quality of…

— Charlie Munger

When someone takes their existing business and tries to transform it into something else - they fail. In technology that is often…

— Charlie Munger

An investment decision in the common stock of a company frequently involves a whole lot of factors interacting ... the one thing…

— Charlie Munger

We may well have a competitive advantage buying decent businesses at decent prices. But they won't be fabulous businesses and fabulous prices.…

— Charlie Munger

It is way less certain to be a wonderful business in the future. The threat is alternative mediums of information. Every newspaper…

— Charlie Munger

...in terms of business mistakes that I've seen over a long lifetime, I would say that trying to minimize taxes too much…

— Charlie Munger

What's fascinating . . .is that you could now have a business that might have been selling for $10 billion where the…

— Charlie Munger

I’d say that Berkshire Hathaway’s system is adapting to the nature of the investment problem as it really is. We’ve really made…

— Charlie Munger

The great lesson in microeconomics is to discriminate between when technology is going to help you and when it's going to kill…

— Charlie Munger

Over the long term, it's hard for a stock to earn a much better return that the business which underlies it earns.…

— Charlie Munger

A business model that relies on trickery is doomed to fail.

— Charlie Munger

A great business at a fair price is superior to a fair business at a great price.

— Charlie Munger

We have found in a long life that one competitor is frequently enough to ruin a business.

— Charlie Munger

The perfect example of Darwinism is what technology has done to businesses.

— Charlie Munger

See's candy company was the first high-quality business we ever bought.

— Charlie Munger

Good businesses can survive a little bad management.

— Charlie Munger

All intelligent investing is value investing - acquiring more that you are paying for. You must value the business in order to…

— Charlie Munger

I think gold is a great thing to sew onto your garments if you're a Jewish family in Vienna in 1939, but…

— Charlie Munger

Wrigley is a great business, but that doesn't solve the problem. Buying great businesses at advantageous prices is very tough.

— Charlie Munger

A lot of success in life and business comes from knowing what you want to avoid: early death, a bad marriage, etc.

— Charlie Munger