You don't have to have perfect wisdom to get very rich - just a bit better than average over a long period… — Charlie Munger Copy Share Image
The Berkshire-style investors tend to be less diversified than other people. The academics have done a terrible disservice to intelligent investors by… — Charlie Munger Copy Share Image
Rationality is not just something you do so that you can make more money, it is a binding principle. Rationality is a… — Charlie Munger Copy Share Image
The average result has to be the average result. By definition, everybody can't beat the market. As I always say, the iron… — Charlie Munger Copy Share Image
If you took our top fifteen decisions out, we'd have a pretty average record. It wasn't hyperactivity, but a hell of a… — Charlie Munger Copy Share Image
Our approach has worked for us. Look at the fun we, our managers, and our shareholders are having. More people should copy… — Charlie Munger Copy Share Image
The normal expectancy of the average investor - for example, the pension funds of AT&T or IBM - is 6% for a… — Charlie Munger Copy Share Image
You don't have to be brilliant, only a little bit wiser than the other guys, on average, for a long, long, time. — Charlie Munger Copy Share Image
Wells Fargo behaves better than the average big bank. But nobody's perfect. — Charlie Munger Copy Share Image
Almost all good businesses engage in 'pain today, gain tomorrow' activities. — Charlie Munger Copy Share Image
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 Image
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 Image
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 Image
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 Image
The tax code gives you an enormous advantage if you can find some things you can just sit with. — Charlie Munger Copy Share Image
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 Image
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 Image
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 Image
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 Image
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 Image
![“They [Mc Donalds] take people and give them a first…” quote by Charlie Munger](https://sms4smile.com/quotes/img-quotes/a55/charlie-munger-458_be-good_they-mc-donalds-take-people-and-give-the_41809.jpg)
