This is an amazingly sound place. We are more disaster-resistant than most other places. We haven't pushed it as hard as other… — Charlie Munger Copy Share Image
At most corporations if you make an acquisition and it turns out to be a disaster, all the paperwork and presentations that… — Charlie Munger Copy Share Image
The hedge fund known as "Long Term Capital Management" collapsed last fall through overconfidence in its highly leveraged methods, despite I.Q.'s of… — Charlie Munger Copy Share Image
You could argue that [the decline of public schools] is one of the major disasters in our lifetimes. We took one of… — Charlie Munger Copy Share Image
In the LBO field there is a buried "covariance" with marketable equities, toward disaster in generally bad business conditions, and competition is… — Charlie Munger Copy Share Image
Almost all good businesses engage in 'pain today, gain tomorrow' activities. — Charlie Munger Copy Share
If you want good behavior, don't pay on a commission basis. Our judges aren't paid so much a case. We keep them pretty well… — Charlie Munger Copy Share
Acquire worldly wisdom and adjust your behavior accordingly. If your new behavior gives you a little temporary unpopularity with your peer group then to… — Charlie Munger Copy Share
I think time and time again, in reality, psychological notions and economic notions interplay, and the man who doesn't understand both is a damned… — Charlie Munger Copy Share
I have what I call an iron prescription that helps me keep sane when I naturally drift toward preferring one ideology over another and… — Charlie Munger Copy Share
The tax code gives you an enormous advantage if you can find some things you can just sit with. — Charlie Munger Copy Share
The great lesson in microeconomics is to discriminate between when technology is going to help you and when it's going to kill you. And… — Charlie Munger Copy Share
Some years ago one oil company bought a fertilizer company, and every other major oil company practically ran out and bought a fertilizer company.… — Charlie Munger Copy Share
They [Mc Donalds] take people and give them a first job, which enables them to get a second job. They do a very good… — Charlie Munger Copy Share
We believe that almost all really good investment records will involve relatively little diversification. The basic idea that it was hard to find good… — Charlie Munger Copy Share
It is way less certain to be a wonderful business in the future. The threat is alternative mediums of information. Every newspaper is scrambling… — Charlie Munger Copy Share
In the corporate world, if you have analysts, due diligence, and no horse sense, you've just described hell. — Charlie Munger Copy Share
We have to have a special insight, or we'll put it in the 'too tough' basket. All of you have to look for a… — Charlie Munger Copy Share
I've heard that one-half of the students at elite schools want to go into private equity or hedge funds. They want to keep up… — Charlie Munger Copy Share
![“You could argue that [the decline of public schools] is one of the major disasters in our lifetimes. We took one of the greatest successes in the history of the earth and turned it into one of the greatest disasters in the history of the earth.” quote by Charlie Munger](https://sms4smile.com/q/img-quotes/2de/charlie-munger-458_arguing_you-could-argue-that-the-decline-of-publ_2624033.jpg)
