We believe that almost all really good investment records will involve relatively little diversification. The basic idea that it was hard to… — Charlie Munger Copy Share Image
Practically everybody (1) overweighs the stuff that can be numbered, because it yields to the statistical techniques they’re taught in academia, and… — Charlie Munger Copy Share Image
It's hard to predict what will happen with two brands in a market. Sometimes they will behave in a gentlemanly way, and… — Charlie Munger Copy Share Image
If you buy something because it's undervalued, then you have to think about selling it when it approaches your calculation of its… — Charlie Munger Copy Share Image
In Gillette's case, they keep surfing along new technology which is fairly simple by the standards of microchips. But it's hard for… — Charlie Munger Copy Share Image
The more hard lessons you can learn vicariously rather than through your own hard experience, the better. — Charlie Munger Copy Share Image
It’s waiting that helps you as an investor, and a lot of people just can’t stand to wait. If you didn’t get… — Charlie Munger Copy Share Image
This is an amazingly sound place. We are more disaster-resistant than most other places. We haven't pushed it as hard as other… — Charlie Munger Copy Share Image
...People need to ask, "How do I play the hand that has been dealt me?" The world is not going to give… — Charlie Munger Copy Share Image
If you're going to be an investor, you're going to make some investments where you don't have all the experience you need.… — Charlie Munger Copy Share Image
Every business tries to turn this year's success into next year's greater success. It's hard for me to see why Microsoft is… — Charlie Munger Copy Share Image
I always like it when someone attractive to me agrees with me, so I have fond memories of Phil Fisher. The idea… — Charlie Munger Copy Share Image
It took us months of buying all the Coke stock we could to accumulate $1 billion worth - equal to 7% of… — Charlie Munger Copy Share Image
How should the best parts of psychology and economics interrelate in an enlightened economist's mind?... I think that these behavioral economics...or economists… — Charlie Munger Copy Share Image
Hard work, honesty, if you keep at it, will get you almost anything. — Charlie Munger Copy Share Image
Berkshire's whole record has been achieved without paying one ounce of attention to the efficient market theory in its hard form. And… — Charlie Munger Copy Share Image
It's very useful to have a good grasp of all the big ideas in hard and soft science. A, it gives perspective.… — Charlie Munger Copy Share Image
One metric catches people. We prefer businesses that drown in cash. An example of a different business is construction equipment. You work… — Charlie Munger Copy Share Image
We have the same problem as everyone else: It's very hard to predict the future. — Charlie Munger Copy Share Image
It's not given to human beings to have such talent that they can just know everything about everything all the time. But… — Charlie Munger Copy Share Image
The lawyers have escaped most criticism [and undeservedly so]. The tax shelters [were approved by lawyers, who got paid huge commissions to… — 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
There's a lot wrong [with American universities]. I'd remove 3/4 of the faculty - everything but the hard sciences. But nobody's going… — Charlie Munger Copy Share Image
The possibility that stock value in aggregate can become irrationally high is contrary to the hard-form "efficient market" theory that many of… — Charlie Munger Copy Share Image
Over the long term, it's hard for a stock to earn a much better return that the business which underlies it earns.… — 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
![“The lawyers have escaped most criticism [and undeservedly so]. The…” quote by Charlie Munger](https://sms4smile.com/quotes/img-quotes/18b/charlie-munger-458_approved_the-lawyers-have-escaped-most-criticism_2142390.jpg)
![“There's a lot wrong [with American universities]. I'd remove 3/4…” quote by Charlie Munger](https://sms4smile.com/quotes/img-quotes/8ea/charlie-munger-458_american-universitie_there-s-a-lot-wrong-with-american-univer_2372237.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)
