Berkshire's past record has been almost ridiculous. If Berkshirehad used even half the leverage of, say, Rupert Murdoch, it would be five… — 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… — Charlie Munger Copy Share Image
Those of us who have been very fortunate have a duty to give back. Whether one gives a lot as one goes… — Charlie Munger Copy Share Image
I think the main figure that matters to all of us, including people in the media, is: How does GDP per capita… — 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
Economic systems work better when there's an extreme reliability ethos. And the traditional way to get a reliability ethos, at least in… — Charlie Munger Copy Share Image
What's fascinating . . .is that you could now have a business that might have been selling for $10 billion where the… — Charlie Munger Copy Share Image
I talked to one accountant, a very nice fellow who I would have been glad to have his family marry into mine.… — 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
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
![“Those of us who have been very fortunate have a duty to give back. Whether one gives a lot as one goes along as I do or a little and then a lot [when one dies] as Warrendoes is a matter of personal preference. I would hate to have people ask me for money all day long.” quote by Charlie Munger](https://sms4smile.com/quotes/img-quotes/1f7/charlie-munger-458_ask-me_those-of-us-who-have-been-very-fortunate_971586.jpg)
![“I talked to one accountant, a very nice fellow who I would have been glad to have his family marry into mine. He said, "What these other accounting firms have done is very unethical. The [tax avoidance scheme] works best if it's not found out [by the IRS], so we only give it to our best clients…” quote by Charlie Munger](https://sms4smile.com/quotes/img-quotes/b14/charlie-munger-458_accountants_i-talked-to-one-accountant-a-very-nice-f_2980092.jpg)
![“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)