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 Copy Share Image
In business we often find that the winning system goes almost ridiculously far in maximizing and or minimizing one or a few… — Charlie Munger Copy Share Image
A great business at a fair price is superior to a fair business at a great price. — Charlie Munger Copy Share Image
If you want to understand science, you have to understand math. In business, if you're enumerate, you're going to be a klutz.… — Charlie Munger Copy Share Image
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 Copy Share Image
If the value of a company doesn't just scream out at you, it's too close. — Charlie Munger Copy Share Image
...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 Copy Share Image
Wrigley is a great business, but that doesn't solve the problem. Buying great businesses at advantageous prices is very tough. — Charlie Munger Copy Share Image
Understanding how to be a good investor makes you a better business manager and vice versa. — Charlie Munger Copy Share Image
Berkshireis in the business of making easy predictions If a deal looks too hard, the partners simply shelve it. — Charlie Munger Copy Share Image
If you can buy the best companies, over time the pricing takes care of itself. — Charlie Munger Copy Share Image
All intelligent investing is value investing - acquiring more that you are paying for. You must value the business in order to… — Charlie Munger Copy Share Image
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 Copy Share Image
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 Copy Share Image
The number one idea is to view a stock as an ownership of the business and to judge the staying quality of… — Charlie Munger Copy Share Image
If all you needed to do is to figure out what company is better than others, everyone would make a lot of… — Charlie Munger Copy Share Image
We have found in a long life that one competitor is frequently enough to ruin a business. — Charlie Munger Copy Share Image
It's a rare business that doesn't have a way worse future than it has a past. — Charlie Munger Copy Share Image
[In picking stocks] You really have to know a lot about business. You have to know a lot about competitive advantage. You… — Charlie Munger Copy Share Image
Berkshire has the lowest turnover of any major company in the U.S.The Walton family owns more of Wal-Mart than Buffett owns of… — Charlie Munger Copy Share Image
Everyone has the idea of owning good companies. The problem is that they have high prices in relations to assets and earnings,… — Charlie Munger Copy Share Image
The perfect example of Darwinism is what technology has done to businesses. — Charlie Munger Copy Share Image
Gold is a great thing to sew into your garments if you're a Jewish family in Vienna in 1939, but I think… — Charlie Munger Copy Share Image
A director who gets $150,000 per year from a company and needs the money is not independent. — 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
![“If the technology hadn't changed, they [newspapers] would still be…” quote by Charlie Munger](https://sms4smile.com/quotes/img-quotes/c02/charlie-munger-458_business_if-the-technology-hadn-t-changed-they-ne_2396489.jpg)
![“[In picking stocks] You really have to know a lot…” quote by Charlie Munger](https://sms4smile.com/quotes/img-quotes/496/charlie-munger-458_able_in-picking-stocks-you-really-have-to-kno_2554597.jpg)
![“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)
