The interesting thing is the field is so big - it's enormous. One thing a modern civilization needs is energy. — Charlie Munger Copy Share Image
A banker who is allowed to borrow money at X and loan it out at X plus Y will just go crazy… — Charlie Munger Copy Share Image
Early Charlie Munger is a horrible career model for the young, because not enough was delivered to civilization in return for what… — Charlie Munger Copy Share Image
I believe that we are at or near the apex of a great civilization... In 50-100 years, if we're a poor third… — Charlie Munger Copy Share Image
I believe Costco does more for civilization than the Rockefeller Foundation. I think it's a better place. You get a bunch of… — Charlie Munger Copy Share Image
Of course the self-serving bias is something you want to get out of yourself. Thinking that what's good for you is good… — Charlie Munger Copy Share Image
You have to know accounting. It's the language of practical business life. It was a very useful thing to deliver to civilization.… — Charlie Munger Copy Share Image
Creative accounting is an absolute curse to a civilization. One could argue that double-entry bookkeeping was one of history's great advances. Using… — Charlie Munger Copy Share Image
The cash register did more for human morality than the Congregational Church. It was a really powerful phenomenon to make an economic… — Charlie Munger Copy Share Image
It's my guess that something like 5% of GDP goes to money management and itsattendant friction. I define it broadly - annuities,… — Charlie Munger Copy Share Image
Over the long term, the eclipse rate of great civilizations being overtaken is 100%. So you know how it's going to end.… — 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 job, which enables them to get a second job. They do a very good job of educating troubled young people to be good citizens and they're probably more successful than charter schools.” 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)
![“It is way less certain to be a wonderful business in the future. The threat is alternative mediums of information. Every newspaper is scrambling to parlay their existing advantage into dominance on the Internet. But it is way less sure [that this will occur] than the certainty 20 years ago that…” quote by Charlie Munger](https://sms4smile.com/quotes/img-quotes/8d0/charlie-munger-458_advantage_it-is-way-less-certain-to-be-a-wonderful_59627.jpg)