---
title: "13 Financial Quotes By Charlie Munger"
description: "13 Financial quotes by Charlie Munger. Plus more from Charlie Munger and more Financial sayings from other authors."
image: "https://sms4smile.com/quotes/i/525/charlie-munger-458_financial_financial-institutions-make-us-nervous-w_2111408.jpg"
---

> [Financial institutions make us nervous when they're trying to do well.](https://sms4smile.com/quotes/charlie-munger/financial-institutions-make-us-nervous-when-they-re-trying-to-do-well/)

[Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/)

[Image](https://sms4smile.com/quotes/i/525/charlie-munger-458_financial_financial-institutions-make-us-nervous-w_2111408.jpg)

> [A lot of our respected financial institutions are just casinos in drag.](https://sms4smile.com/quotes/charlie-munger/a-lot-of-our-respected-financial-institutions-are-just-casinos-in-drag/)

[Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/)

[Image](https://sms4smile.com/quotes/i/f00/charlie-munger-458_casinos_a-lot-of-our-respected-financial-institu_2257145.jpg)

> ['F.A.S.B' ... 'Financial Accounts Still Bogus'.](https://sms4smile.com/quotes/charlie-munger/f-a-s-b-financial-accounts-still-bogus/)

[Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/)

[Image](https://sms4smile.com/quotes/i/989/charlie-munger-458_accounts_f-a-s-b-financial-accounts-still-bogus-6_683328.jpg)

> [One of the first big bubbles, of course, was the huge and horrible South Sea Bubble in England. And the aftermath was…](https://sms4smile.com/quotes/charlie-munger/one-of-the-first-big-bubbles-of-course-was-the-huge-and-horrible/)

[Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/)

[Image](https://sms4smile.com/quotes/i/140/charlie-munger-458_aftermath_one-of-the-first-big-bubbles-of-course-w_2983936.jpg)

> [With Congress and the S.E.C. so heavily peopled by lawyers, and with lawyers having been so heavily involved in drafting financial disclosure…](https://sms4smile.com/quotes/charlie-munger/with-congress-and-the-s-e-c-so-heavily-peopled-by-lawyers-and-with/)

[Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/)

[Image](https://sms4smile.com/quotes/i/ea9/charlie-munger-458_butchers_with-congress-and-the-s-e-c-so-heavily-p_732362.jpg)

> [Our experience tends to confirm a long-held notion that being prepared, on a few occasions in a lifetime, to act promptly in…](https://sms4smile.com/quotes/charlie-munger/our-experience-tends-to-confirm-a-long-held-notion-that-being/)

[Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/)

[Image](https://sms4smile.com/quotes/i/fec/charlie-munger-458_financial_our-experience-tends-to-confirm-a-long-h_2765558.jpg)

> [The beauty of a financial institution is that there are a lot of ways to go to hell in a bucket. You…](https://sms4smile.com/quotes/charlie-munger/the-beauty-of-a-financial-institution-is-that-there-are-a-lot-of-ways/)

[Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/)

[Image](https://sms4smile.com/quotes/i/628/charlie-munger-458_acquisition_the-beauty-of-a-financial-institution-is_1034580.jpg)

> [Since those don’t hit financial reports, the opportunities you had but didn’t accept, most people don’t bother thinking about them very much.…](https://sms4smile.com/quotes/charlie-munger/since-those-don-t-hit-financial-reports-the-opportunities-you-had-but/)

[Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/)

[Image](https://sms4smile.com/quotes/i/631/charlie-munger-458_attention_since-those-don-t-hit-financial-reports_1347474.jpg)

> [Where you have complexity, by nature you can have fraud and mistakes. You'll have more of that than in a company that…](https://sms4smile.com/quotes/charlie-munger/where-you-have-complexity-by-nature-you-can-have-fraud-and-mistakes/)

[Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/)

[Image](https://sms4smile.com/quotes/i/b36/charlie-munger-458_accurate_where-you-have-complexity-by-nature-you_523398.jpg)

> [After nearly making a terrible mistake not buying See's, we've made this mistake many times. We are apparently slow learners. These opportunity…](https://sms4smile.com/quotes/charlie-munger/after-nearly-making-a-terrible-mistake-not-buying-see-s-we-ve-made/)

[Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/)

[Image](https://sms4smile.com/quotes/i/9af/charlie-munger-458_billions_after-nearly-making-a-terrible-mistake-n_2444772.jpg)

> [In engineering, people have a big margin of safety. But in the financial world, people don't give a damn about safety. They…](https://sms4smile.com/quotes/charlie-munger/in-engineering-people-have-a-big-margin-of-safety-but-in-the/)

[Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/)

[Image](https://sms4smile.com/quotes/i/e8a/charlie-munger-458_accounting_in-engineering-people-have-a-big-margin_1891460.jpg)

> [I also want to raise the possibility that there are, in the very long term, "virtue effects" in economics- for instance that…](https://sms4smile.com/quotes/charlie-munger/i-also-want-to-raise-the-possibility-that-there-are-in-the-very-long/)

[Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/)

[Image](https://sms4smile.com/quotes/i/79f/charlie-munger-458_accounting_i-also-want-to-raise-the-possibility-tha_2993526.jpg)

> [While no real money came down, my family gave me a good education and a marvelous example of how people should behave,…](https://sms4smile.com/quotes/charlie-munger/while-no-real-money-came-down-my-family-gave-me-a-good-education-and/)

[Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/)

[Image](https://sms4smile.com/quotes/i/6da/charlie-munger-458_advantage_while-no-real-money-came-down-my-family_288674.jpg)

## Other authors on Financial

## More by Charlie Munger

> [Almost all good businesses engage in 'pain today, gain tomorrow' activities.](https://sms4smile.com/quotes/charlie-munger/almost-all-good-businesses-engage-in-pain-today-gain-tomorrow/)

[Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/)

> [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…](https://sms4smile.com/quotes/charlie-munger/if-you-want-good-behavior-don-t-pay-on-a-commission-basis-our-judges/)

[Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/)

> [Acquire worldly wisdom and adjust your behavior accordingly. If your new behavior gives you a little temporary unpopularity with your peer group then to…](https://sms4smile.com/quotes/charlie-munger/acquire-worldly-wisdom-and-adjust-your-behavior-accordingly-if-your/)

[Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/)

> [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…](https://sms4smile.com/quotes/charlie-munger/i-think-time-and-time-again-in-reality-psychological-notions-and/)

[Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/)

> [I have what I call an iron prescription that helps me keep sane when I naturally drift toward preferring one ideology over another and…](https://sms4smile.com/quotes/charlie-munger/i-have-what-i-call-an-iron-prescription-that-helps-me-keep-sane-when/)

[Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/)

> [The tax code gives you an enormous advantage if you can find some things you can just sit with.](https://sms4smile.com/quotes/charlie-munger/the-tax-code-gives-you-an-enormous-advantage-if-you-can-find-some/)

[Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/)

> [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…](https://sms4smile.com/quotes/charlie-munger/the-great-lesson-in-microeconomics-is-to-discriminate-between-when/)

[Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/)

> [Some years ago one oil company bought a fertilizer company, and every other major oil company practically ran out and bought a fertilizer company.…](https://sms4smile.com/quotes/charlie-munger/some-years-ago-one-oil-company-bought-a-fertilizer-company-and-every/)

[Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/)

> [ They \[Mc Donalds\] take people and give them a first job, which enables them to get a second job. They do a very good… ](https://sms4smile.com/quotes/charlie-munger/they-mc-donalds-take-people-and-give-them-a-first-job-which-enables/)

[Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/)

> [What good is envy? It’s the one sin you can’t have any fun at.](https://sms4smile.com/quotes/charlie-munger/what-good-is-envy-it-s-the-one-sin-you-can-t-have-any-fun-at/)

[Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/)

> [We believe that almost all really good investment records will involve relatively little diversification. The basic idea that it was hard to find good…](https://sms4smile.com/quotes/charlie-munger/we-believe-that-almost-all-really-good-investment-records-will/)

[Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/)

> [It is way less certain to be a wonderful business in the future. The threat is alternative mediums of information. Every newspaper is scrambling…](https://sms4smile.com/quotes/charlie-munger/it-is-way-less-certain-to-be-a-wonderful-business-in-the-future-the/)

[Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/)

> [In the corporate world, if you have analysts, due diligence, and no horse sense, you've just described hell.](https://sms4smile.com/quotes/charlie-munger/in-the-corporate-world-if-you-have-analysts-due-diligence-and-no/)

[Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/)

> [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…](https://sms4smile.com/quotes/charlie-munger/we-have-to-have-a-special-insight-or-we-ll-put-it-in-the-too-tough/)

[Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/)

> [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…](https://sms4smile.com/quotes/charlie-munger/i-ve-heard-that-one-half-of-the-students-at-elite-schools-want-to-go/)

[Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/)

```json
{
    "@context": "https://schema.org",
    "@graph": [
        {
            "@type": "ItemList",
            "@id": "https://sms4smile.com/quotes/about/financial/charlie-munger/#itemlist",
            "name": "13 Financial Quotes By Charlie Munger",
            "numberOfItems": 13,
            "itemListElement": [
                {
                    "@type": "ListItem",
                    "position": 1,
                    "item": {
                        "@type": "Quotation",
                        "text": "Financial institutions make us nervous when they're trying to do well.",
                        "creator": {
                            "@type": "Person",
                            "name": "Charlie Munger"
                        },
                        "url": "https://sms4smile.com/quotes/charlie-munger/financial-institutions-make-us-nervous-when-they-re-trying-to-do-well/",
                        "image": {
                            "@type": "ImageObject",
                            "@id": "https://sms4smile.com/quotes/i/525/charlie-munger-458_financial_financial-institutions-make-us-nervous-w_2111408.jpg",
                            "contentUrl": "https://sms4smile.com/quotes/i/525/charlie-munger-458_financial_financial-institutions-make-us-nervous-w_2111408.jpg",
                            "url": "https://sms4smile.com/quotes/i/525/charlie-munger-458_financial_financial-institutions-make-us-nervous-w_2111408.jpg",
                            "width": 1080,
                            "height": 1080,
                            "caption": "“Financial institutions make us nervous when they're trying to do well.” — Charlie Munger",
                            "creditText": "SMS4Smile Quotes",
                            "creator": {
                                "@id": "https://sms4smile.com/quotes/#organization"
                            }
                        }
                    }
                },
                {
                    "@type": "ListItem",
                    "position": 2,
                    "item": {
                        "@type": "Quotation",
                        "text": "A lot of our respected financial institutions are just casinos in drag.",
                        "creator": {
                            "@type": "Person",
                            "name": "Charlie Munger"
                        },
                        "url": "https://sms4smile.com/quotes/charlie-munger/a-lot-of-our-respected-financial-institutions-are-just-casinos-in-drag/",
                        "image": {
                            "@type": "ImageObject",
                            "@id": "https://sms4smile.com/quotes/i/f00/charlie-munger-458_casinos_a-lot-of-our-respected-financial-institu_2257145.jpg",
                            "contentUrl": "https://sms4smile.com/quotes/i/f00/charlie-munger-458_casinos_a-lot-of-our-respected-financial-institu_2257145.jpg",
                            "url": "https://sms4smile.com/quotes/i/f00/charlie-munger-458_casinos_a-lot-of-our-respected-financial-institu_2257145.jpg",
                            "width": 1080,
                            "height": 1080,
                            "caption": "“A lot of our respected financial institutions are just casinos in drag.” — Charlie Munger",
                            "creditText": "SMS4Smile Quotes",
                            "creator": {
                                "@id": "https://sms4smile.com/quotes/#organization"
                            }
                        }
                    }
                },
                {
                    "@type": "ListItem",
                    "position": 3,
                    "item": {
                        "@type": "Quotation",
                        "text": "'F.A.S.B' ... 'Financial Accounts Still Bogus'.",
                        "creator": {
                            "@type": "Person",
                            "name": "Charlie Munger"
                        },
                        "url": "https://sms4smile.com/quotes/charlie-munger/f-a-s-b-financial-accounts-still-bogus/",
                        "image": {
                            "@type": "ImageObject",
                            "@id": "https://sms4smile.com/quotes/i/989/charlie-munger-458_accounts_f-a-s-b-financial-accounts-still-bogus-6_683328.jpg",
                            "contentUrl": "https://sms4smile.com/quotes/i/989/charlie-munger-458_accounts_f-a-s-b-financial-accounts-still-bogus-6_683328.jpg",
                            "url": "https://sms4smile.com/quotes/i/989/charlie-munger-458_accounts_f-a-s-b-financial-accounts-still-bogus-6_683328.jpg",
                            "width": 1080,
                            "height": 1080,
                            "caption": "“'F.A.S.B' ... 'Financial Accounts Still Bogus'.” — Charlie Munger",
                            "creditText": "SMS4Smile Quotes",
                            "creator": {
                                "@id": "https://sms4smile.com/quotes/#organization"
                            }
                        }
                    }
                },
                {
                    "@type": "ListItem",
                    "position": 4,
                    "item": {
                        "@type": "Quotation",
                        "text": "One of the first big bubbles, of course, was the huge and horrible South Sea Bubble in England. And the aftermath was interesting. Many of you probably don't remember what happened after the South Sea Bubble, which caused an enormous financial contraction, and a lot of pain. They banned publicly traded stock in England for decades.",
                        "creator": {
                            "@type": "Person",
                            "name": "Charlie Munger"
                        },
                        "url": "https://sms4smile.com/quotes/charlie-munger/one-of-the-first-big-bubbles-of-course-was-the-huge-and-horrible/",
                        "image": {
                            "@type": "ImageObject",
                            "@id": "https://sms4smile.com/quotes/i/140/charlie-munger-458_aftermath_one-of-the-first-big-bubbles-of-course-w_2983936.jpg",
                            "contentUrl": "https://sms4smile.com/quotes/i/140/charlie-munger-458_aftermath_one-of-the-first-big-bubbles-of-course-w_2983936.jpg",
                            "url": "https://sms4smile.com/quotes/i/140/charlie-munger-458_aftermath_one-of-the-first-big-bubbles-of-course-w_2983936.jpg",
                            "width": 1080,
                            "height": 1080,
                            "caption": "“One of the first big bubbles, of course, was the huge and horrible South Sea Bubble in England. And the…” — Charlie Munger",
                            "creditText": "SMS4Smile Quotes",
                            "creator": {
                                "@id": "https://sms4smile.com/quotes/#organization"
                            }
                        }
                    }
                },
                {
                    "@type": "ListItem",
                    "position": 5,
                    "item": {
                        "@type": "Quotation",
                        "text": "With Congress and the S.E.C. so heavily peopled by lawyers, and with lawyers having been so heavily involved in drafting financial disclosure documents now seen as bogus, there was a new \"lawyer\" joke every week. One such was: \"The butcher says 'the reputation of lawyers has fallen dramatically', and the check-out clerk replies: \"How do you fall dramatically off a pancake?",
                        "creator": {
                            "@type": "Person",
                            "name": "Charlie Munger"
                        },
                        "url": "https://sms4smile.com/quotes/charlie-munger/with-congress-and-the-s-e-c-so-heavily-peopled-by-lawyers-and-with/",
                        "image": {
                            "@type": "ImageObject",
                            "@id": "https://sms4smile.com/quotes/i/ea9/charlie-munger-458_butchers_with-congress-and-the-s-e-c-so-heavily-p_732362.jpg",
                            "contentUrl": "https://sms4smile.com/quotes/i/ea9/charlie-munger-458_butchers_with-congress-and-the-s-e-c-so-heavily-p_732362.jpg",
                            "url": "https://sms4smile.com/quotes/i/ea9/charlie-munger-458_butchers_with-congress-and-the-s-e-c-so-heavily-p_732362.jpg",
                            "width": 1080,
                            "height": 1080,
                            "caption": "“With Congress and the S.E.C. so heavily peopled by lawyers, and with lawyers having been so heavily involved…” — Charlie Munger",
                            "creditText": "SMS4Smile Quotes",
                            "creator": {
                                "@id": "https://sms4smile.com/quotes/#organization"
                            }
                        }
                    }
                },
                {
                    "@type": "ListItem",
                    "position": 6,
                    "item": {
                        "@type": "Quotation",
                        "text": "Our experience tends to confirm a long-held notion that being prepared, on a few occasions in a lifetime, to act promptly in scale, in doing some simple and logical thing, will often dramatically improve the financial results of that lifetime.",
                        "creator": {
                            "@type": "Person",
                            "name": "Charlie Munger"
                        },
                        "url": "https://sms4smile.com/quotes/charlie-munger/our-experience-tends-to-confirm-a-long-held-notion-that-being/",
                        "image": {
                            "@type": "ImageObject",
                            "@id": "https://sms4smile.com/quotes/i/fec/charlie-munger-458_financial_our-experience-tends-to-confirm-a-long-h_2765558.jpg",
                            "contentUrl": "https://sms4smile.com/quotes/i/fec/charlie-munger-458_financial_our-experience-tends-to-confirm-a-long-h_2765558.jpg",
                            "url": "https://sms4smile.com/quotes/i/fec/charlie-munger-458_financial_our-experience-tends-to-confirm-a-long-h_2765558.jpg",
                            "width": 1080,
                            "height": 1080,
                            "caption": "“Our experience tends to confirm a long-held notion that being prepared, on a few occasions in a lifetime, to…” — Charlie Munger",
                            "creditText": "SMS4Smile Quotes",
                            "creator": {
                                "@id": "https://sms4smile.com/quotes/#organization"
                            }
                        }
                    }
                },
                {
                    "@type": "ListItem",
                    "position": 7,
                    "item": {
                        "@type": "Quotation",
                        "text": "The beauty of a financial institution is that there are a lot of ways to go to hell in a bucket. You can push credit too far, do a dumb acquisition, leverage yourself excessively - it's not just derivatives [that can bring about your downfall].",
                        "creator": {
                            "@type": "Person",
                            "name": "Charlie Munger"
                        },
                        "url": "https://sms4smile.com/quotes/charlie-munger/the-beauty-of-a-financial-institution-is-that-there-are-a-lot-of-ways/",
                        "image": {
                            "@type": "ImageObject",
                            "@id": "https://sms4smile.com/quotes/i/628/charlie-munger-458_acquisition_the-beauty-of-a-financial-institution-is_1034580.jpg",
                            "contentUrl": "https://sms4smile.com/quotes/i/628/charlie-munger-458_acquisition_the-beauty-of-a-financial-institution-is_1034580.jpg",
                            "url": "https://sms4smile.com/quotes/i/628/charlie-munger-458_acquisition_the-beauty-of-a-financial-institution-is_1034580.jpg",
                            "width": 1080,
                            "height": 1080,
                            "caption": "“The beauty of a financial institution is that there are a lot of ways to go to hell in a bucket. You can…” — Charlie Munger",
                            "creditText": "SMS4Smile Quotes",
                            "creator": {
                                "@id": "https://sms4smile.com/quotes/#organization"
                            }
                        }
                    }
                },
                {
                    "@type": "ListItem",
                    "position": 8,
                    "item": {
                        "@type": "Quotation",
                        "text": "Since those don’t hit financial reports, the opportunities you had but didn’t accept, most people don’t bother thinking about them very much. At least that is a mistake we don’t make. We rub our own noses in our mistakes in blowing opportunities, as we just did.",
                        "creator": {
                            "@type": "Person",
                            "name": "Charlie Munger"
                        },
                        "url": "https://sms4smile.com/quotes/charlie-munger/since-those-don-t-hit-financial-reports-the-opportunities-you-had-but/",
                        "image": {
                            "@type": "ImageObject",
                            "@id": "https://sms4smile.com/quotes/i/631/charlie-munger-458_attention_since-those-don-t-hit-financial-reports_1347474.jpg",
                            "contentUrl": "https://sms4smile.com/quotes/i/631/charlie-munger-458_attention_since-those-don-t-hit-financial-reports_1347474.jpg",
                            "url": "https://sms4smile.com/quotes/i/631/charlie-munger-458_attention_since-those-don-t-hit-financial-reports_1347474.jpg",
                            "width": 1080,
                            "height": 1080,
                            "caption": "“Since those don’t hit financial reports, the opportunities you had but didn’t accept, most people don’t…” — Charlie Munger",
                            "creditText": "SMS4Smile Quotes",
                            "creator": {
                                "@id": "https://sms4smile.com/quotes/#organization"
                            }
                        }
                    }
                },
                {
                    "@type": "ListItem",
                    "position": 9,
                    "item": {
                        "@type": "Quotation",
                        "text": "Where you have complexity, by nature you can have fraud and mistakes. You'll have more of that than in a company that shovels sand from a river and sells it. This will always be true of financial companies, including ones run by governments. If you want accurate numbers from financial companies, you're in the wrong world.",
                        "creator": {
                            "@type": "Person",
                            "name": "Charlie Munger"
                        },
                        "url": "https://sms4smile.com/quotes/charlie-munger/where-you-have-complexity-by-nature-you-can-have-fraud-and-mistakes/",
                        "image": {
                            "@type": "ImageObject",
                            "@id": "https://sms4smile.com/quotes/i/b36/charlie-munger-458_accurate_where-you-have-complexity-by-nature-you_523398.jpg",
                            "contentUrl": "https://sms4smile.com/quotes/i/b36/charlie-munger-458_accurate_where-you-have-complexity-by-nature-you_523398.jpg",
                            "url": "https://sms4smile.com/quotes/i/b36/charlie-munger-458_accurate_where-you-have-complexity-by-nature-you_523398.jpg",
                            "width": 1080,
                            "height": 1080,
                            "caption": "“Where you have complexity, by nature you can have fraud and mistakes. You'll have more of that than in a…” — Charlie Munger",
                            "creditText": "SMS4Smile Quotes",
                            "creator": {
                                "@id": "https://sms4smile.com/quotes/#organization"
                            }
                        }
                    }
                },
                {
                    "@type": "ListItem",
                    "position": 10,
                    "item": {
                        "@type": "Quotation",
                        "text": "After nearly making a terrible mistake not buying See's, we've made this mistake many times. We are apparently slow learners. These opportunity costs don't show up on financial statements, but have cost us many billions.",
                        "creator": {
                            "@type": "Person",
                            "name": "Charlie Munger"
                        },
                        "url": "https://sms4smile.com/quotes/charlie-munger/after-nearly-making-a-terrible-mistake-not-buying-see-s-we-ve-made/",
                        "image": {
                            "@type": "ImageObject",
                            "@id": "https://sms4smile.com/quotes/i/9af/charlie-munger-458_billions_after-nearly-making-a-terrible-mistake-n_2444772.jpg",
                            "contentUrl": "https://sms4smile.com/quotes/i/9af/charlie-munger-458_billions_after-nearly-making-a-terrible-mistake-n_2444772.jpg",
                            "url": "https://sms4smile.com/quotes/i/9af/charlie-munger-458_billions_after-nearly-making-a-terrible-mistake-n_2444772.jpg",
                            "width": 1080,
                            "height": 1080,
                            "caption": "“After nearly making a terrible mistake not buying See's, we've made this mistake many times. We are…” — Charlie Munger",
                            "creditText": "SMS4Smile Quotes",
                            "creator": {
                                "@id": "https://sms4smile.com/quotes/#organization"
                            }
                        }
                    }
                },
                {
                    "@type": "ListItem",
                    "position": 11,
                    "item": {
                        "@type": "Quotation",
                        "text": "In engineering, people have a big margin of safety. But in the financial world, people don't give a damn about safety. They let it balloon and balloon and balloon. It's aided by false accounting.",
                        "creator": {
                            "@type": "Person",
                            "name": "Charlie Munger"
                        },
                        "url": "https://sms4smile.com/quotes/charlie-munger/in-engineering-people-have-a-big-margin-of-safety-but-in-the/",
                        "image": {
                            "@type": "ImageObject",
                            "@id": "https://sms4smile.com/quotes/i/e8a/charlie-munger-458_accounting_in-engineering-people-have-a-big-margin_1891460.jpg",
                            "contentUrl": "https://sms4smile.com/quotes/i/e8a/charlie-munger-458_accounting_in-engineering-people-have-a-big-margin_1891460.jpg",
                            "url": "https://sms4smile.com/quotes/i/e8a/charlie-munger-458_accounting_in-engineering-people-have-a-big-margin_1891460.jpg",
                            "width": 1080,
                            "height": 1080,
                            "caption": "“In engineering, people have a big margin of safety. But in the financial world, people don't give a damn…” — Charlie Munger",
                            "creditText": "SMS4Smile Quotes",
                            "creator": {
                                "@id": "https://sms4smile.com/quotes/#organization"
                            }
                        }
                    }
                },
                {
                    "@type": "ListItem",
                    "position": 12,
                    "item": {
                        "@type": "Quotation",
                        "text": "I also want to raise the possibility that there are, in the very long term, \"virtue effects\" in economics- for instance that widespread corrupt accounting will eventually create bad long term consequences as a sort of obverse effect from the virtue-based boost double-entry book-keeping gave to the heyday of Venice. I suggest that when the financial scene starts reminding you of Sodomand Gomorrah, you should fear practical consequences even if you like to participate in what is going on.",
                        "creator": {
                            "@type": "Person",
                            "name": "Charlie Munger"
                        },
                        "url": "https://sms4smile.com/quotes/charlie-munger/i-also-want-to-raise-the-possibility-that-there-are-in-the-very-long/",
                        "image": {
                            "@type": "ImageObject",
                            "@id": "https://sms4smile.com/quotes/i/79f/charlie-munger-458_accounting_i-also-want-to-raise-the-possibility-tha_2993526.jpg",
                            "contentUrl": "https://sms4smile.com/quotes/i/79f/charlie-munger-458_accounting_i-also-want-to-raise-the-possibility-tha_2993526.jpg",
                            "url": "https://sms4smile.com/quotes/i/79f/charlie-munger-458_accounting_i-also-want-to-raise-the-possibility-tha_2993526.jpg",
                            "width": 1080,
                            "height": 1080,
                            "caption": "“I also want to raise the possibility that there are, in the very long term, \"virtue effects\" in economics…” — Charlie Munger",
                            "creditText": "SMS4Smile Quotes",
                            "creator": {
                                "@id": "https://sms4smile.com/quotes/#organization"
                            }
                        }
                    }
                },
                {
                    "@type": "ListItem",
                    "position": 13,
                    "item": {
                        "@type": "Quotation",
                        "text": "While no real money came down, my family gave me a good education and a marvelous example of how people should behave, and in the end that was more valuable than money. Being surrounded by the right values from the beginning is an immense treasure. Warrenhad that. It even has a financial advantage.",
                        "creator": {
                            "@type": "Person",
                            "name": "Charlie Munger"
                        },
                        "url": "https://sms4smile.com/quotes/charlie-munger/while-no-real-money-came-down-my-family-gave-me-a-good-education-and/",
                        "image": {
                            "@type": "ImageObject",
                            "@id": "https://sms4smile.com/quotes/i/6da/charlie-munger-458_advantage_while-no-real-money-came-down-my-family_288674.jpg",
                            "contentUrl": "https://sms4smile.com/quotes/i/6da/charlie-munger-458_advantage_while-no-real-money-came-down-my-family_288674.jpg",
                            "url": "https://sms4smile.com/quotes/i/6da/charlie-munger-458_advantage_while-no-real-money-came-down-my-family_288674.jpg",
                            "width": 1080,
                            "height": 1080,
                            "caption": "“While no real money came down, my family gave me a good education and a marvelous example of how people…” — Charlie Munger",
                            "creditText": "SMS4Smile Quotes",
                            "creator": {
                                "@id": "https://sms4smile.com/quotes/#organization"
                            }
                        }
                    }
                }
            ]
        },
        {
            "@type": "CollectionPage",
            "@id": "https://sms4smile.com/quotes/about/financial/charlie-munger/#webpage",
            "url": "https://sms4smile.com/quotes/about/financial/charlie-munger/",
            "name": "Financial Quotes by Charlie Munger",
            "isPartOf": {
                "@id": "https://sms4smile.com/quotes/#website"
            },
            "mainEntity": {
                "@id": "https://sms4smile.com/quotes/about/financial/charlie-munger/#itemlist"
            },
            "primaryImageOfPage": {
                "@id": "https://sms4smile.com/quotes/i/525/charlie-munger-458_financial_financial-institutions-make-us-nervous-w_2111408.jpg"
            },
            "description": "13 Financial quotes by Charlie Munger. Plus more from Charlie Munger and more Financial sayings from other authors.",
            "breadcrumb": {
                "@id": "https://sms4smile.com/quotes/about/financial/charlie-munger/#breadcrumb"
            }
        },
        {
            "@type": "BreadcrumbList",
            "@id": "https://sms4smile.com/quotes/about/financial/charlie-munger/#breadcrumb",
            "itemListElement": [
                {
                    "@type": "ListItem",
                    "position": 1,
                    "name": "Home",
                    "item": "https://sms4smile.com/"
                },
                {
                    "@type": "ListItem",
                    "position": 2,
                    "name": "Quotes",
                    "item": "https://sms4smile.com/quotes/"
                },
                {
                    "@type": "ListItem",
                    "position": 3,
                    "name": "Topics",
                    "item": "https://sms4smile.com/quotes/categories/"
                },
                {
                    "@type": "ListItem",
                    "position": 4,
                    "name": "Financial",
                    "item": "https://sms4smile.com/quotes/about/financial/"
                },
                {
                    "@type": "ListItem",
                    "position": 5,
                    "name": "Charlie Munger",
                    "item": "https://sms4smile.com/quotes/about/financial/charlie-munger/"
                }
            ]
        },
        {
            "@type": "WebSite",
            "@id": "https://sms4smile.com/quotes/#website",
            "name": "SMS4Smile Quotes",
            "url": "https://sms4smile.com/quotes/",
            "publisher": {
                "@id": "https://sms4smile.com/quotes/#organization"
            }
        },
        {
            "@type": "Organization",
            "@id": "https://sms4smile.com/quotes/#organization",
            "name": "SMS4Smile Quotes",
            "url": "https://sms4smile.com/quotes/",
            "logo": {
                "@type": "ImageObject",
                "url": "https://sms4smile.com/quotes/wp-content/themes/sq/assets/icons/icon-512.png",
                "width": 512,
                "height": 512
            }
        }
    ]
}
```