Some years ago one oil company bought a fertilizer company, and every other major oil company practically ran out and bought a… — Charlie Munger Copy Share Image
The way to win is to work, work, work, work and hope to have a few insights And you're probably not going… — Charlie Munger Copy Share Image
You're looking for a mispriced gamble. That's what investing is. And you have to know enough to know whether the gamble is… — Charlie Munger Copy Share Image
A foreign correspondent, after talking to me for a while, once said: "You don't seem smart enough to be so good at… — Charlie Munger Copy Share Image
If you, like me, lived through 1973-74 or even the early 1990s... There was a waiting list to get OUT of the… — 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
...all man's desired geometric progressions, if a high rate of growth is chosen, at last come to grief on a finite earth.… — Charlie Munger Copy Share Image
We get these questions a lot from the enterprising young. It's a very intelligent question: You look at some old guy who's… — Charlie Munger Copy Share Image
The interesting thing about it to me is the mindset. With all these "helpers" running around, they talk about doing deals. We… — Charlie Munger Copy Share Image
A few public hangings will really change behavior. One of our Presidents said if he could execute three people each year for… — Charlie Munger Copy Share Image
So you can get very remarkable investment results if you think more like a winning pari-mutuel player. Just think of it as… — Charlie Munger Copy Share Image
To us, investing is the equivalent of going out and betting against the pari-mutuel system. We look for a horse with one… — Charlie Munger Copy Share Image
I know just enough about thermodynamics to understand that if it takes too much fossil-fuel energy to create ethanol, that's a very… — 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
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)