We don't claim to have perfect morals, but at least we have a huge area of things that, while legal, are beneath… — Charlie Munger Copy Share Image
Organized common (or uncommon) sense -- very basic knowledge -- is an enormously powerful tool. There are huge dangers with computers. People… — Charlie Munger Copy Share Image
Accounting is a big subject and there are huge forces in play. The entire momentum of existing thinking and existing custom is… — Charlie Munger Copy Share Image
I'm used to people with very high IQs knowing how to recognize reality, but there's a huge human tendency where it may… — Charlie Munger Copy Share Image
Opportunity cost is a huge filter in life. If you've got two suitors who are really eager to have you and one… — Charlie Munger Copy Share Image
It's natural that you'd have more brains going into money management. There are so many huge incomes in money management and investment… — Charlie Munger Copy Share Image
The SEC does way more good than harm - the last thing I would do is get rid of the SEC...if accounting… — 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
We believe there should be a huge area between everything you should do and everything you can do without getting into legal… — Charlie Munger Copy Share Image
I mean people are really crazy about minor decrements down. And then, if you act on them, then you get into reciprocation… — 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
Of course I'm troubled by huge consumer debt levels - we've pushed consumer credit very hard in the US. Eventually, if it… — 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
[GEICO] got to thinking that, because they were making a lot of money, they knew everything. And they suffered huge losses. All… — Charlie Munger Copy Share Image
One of the first big bubbles, of course, was the huge and horrible South Sea Bubble in England. And the aftermath was… — 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 tax shelters [were approved by lawyers, who got paid huge commissions to do so] and every miscreant had a high-falutin' lawyer at his side. Why don't more law firms vote with their feet and not take clients who have signs on them…” quote by Charlie Munger](https://sms4smile.com/quotes/img-quotes/18b/charlie-munger-458_approved_the-lawyers-have-escaped-most-criticism_2142390.jpg)
![“[GEICO] got to thinking that, because they were making a lot of money, they knew everything. And they suffered huge losses. All they had to do was to cut out all the folly and go back to the perfectly wonderful business that was lying there.” quote by Charlie Munger](https://sms4smile.com/quotes/img-quotes/885/charlie-munger-458_business_geico-got-to-thinking-that-because-they_3226286.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)