---
title: "16 Huge Quotes By Charlie Munger"
description: "16 Huge quotes by Charlie Munger. Plus more from Charlie Munger and more Huge sayings from other authors."
image: "https://sms4smile.com/quotes/i/bf0/charlie-munger-458_ants_it-s-natural-that-you-d-have-more-brains_275139.jpg"
---

> [It's natural that you'd have more brains going into money management. There are so many huge incomes in money management and investment…](https://sms4smile.com/quotes/charlie-munger/it-s-natural-that-you-d-have-more-brains-going-into-money-management/)

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

[Image](https://sms4smile.com/quotes/i/bf0/charlie-munger-458_ants_it-s-natural-that-you-d-have-more-brains_275139.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)

> [ \[GEICO\] got to thinking that, because they were making a lot of money, they knew everything. And they suffered huge losses. All… ](https://sms4smile.com/quotes/charlie-munger/geico-got-to-thinking-that-because-they-were-making-a-lot-of-money/)

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

[Image](https://sms4smile.com/quotes/i/885/charlie-munger-458_business_geico-got-to-thinking-that-because-they_3226286.jpg)

> [Opportunity cost is a huge filter in life. If you've got two suitors who are really eager to have you and one…](https://sms4smile.com/quotes/charlie-munger/opportunity-cost-is-a-huge-filter-in-life-if-you-ve-got-two-suitors/)

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

[Image](https://sms4smile.com/quotes/i/3c4/charlie-munger-458_buying_opportunity-cost-is-a-huge-filter-in-lif_599205.jpg)

> [The SEC does way more good than harm - the last thing I would do is get rid of the SEC...if accounting…](https://sms4smile.com/quotes/charlie-munger/the-sec-does-way-more-good-than-harm-the-last-thing-i-would-do-is-get/)

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

[Image](https://sms4smile.com/quotes/i/9e5/charlie-munger-458_accounting_the-sec-does-way-more-good-than-harm-the_772464.jpg)

> [I'm used to people with very high IQs knowing how to recognize reality, but there's a huge human tendency where it may…](https://sms4smile.com/quotes/charlie-munger/i-m-used-to-people-with-very-high-iqs-knowing-how-to-recognize/)

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

[Image](https://sms4smile.com/quotes/i/b54/charlie-munger-458_high_i-m-used-to-people-with-very-high-iqs-kn_2098943.jpg)

> [I think the main figure that matters to all of us, including people in the media, is: How does GDP per capita…](https://sms4smile.com/quotes/charlie-munger/i-think-the-main-figure-that-matters-to-all-of-us-including-people-in/)

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

[Image](https://sms4smile.com/quotes/i/3d3/charlie-munger-458_doe_i-think-the-main-figure-that-matters-to_3227036.jpg)

> [Accounting is a big subject and there are huge forces in play. The entire momentum of existing thinking and existing custom is…](https://sms4smile.com/quotes/charlie-munger/accounting-is-a-big-subject-and-there-are-huge-forces-in-play-the/)

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

[Image](https://sms4smile.com/quotes/i/1af/charlie-munger-458_accounting_accounting-is-a-big-subject-and-there-ar_1965349.jpg)

> [Over the long term, it's hard for a stock to earn a much better return that the business which underlies it earns.…](https://sms4smile.com/quotes/charlie-munger/over-the-long-term-it-s-hard-for-a-stock-to-earn-a-much-better-return/)

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

[Image](https://sms4smile.com/quotes/i/48b/charlie-munger-458_business_over-the-long-term-it-s-hard-for-a-stock_2784038.jpg)

> [ The lawyers have escaped most criticism \[and undeservedly so\]. The tax shelters \[were approved by lawyers, who got paid huge commissions to… ](https://sms4smile.com/quotes/charlie-munger/the-lawyers-have-escaped-most-criticism-and-undeservedly-so-the-tax/)

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

[Image](https://sms4smile.com/quotes/i/18b/charlie-munger-458_approved_the-lawyers-have-escaped-most-criticism_2142390.jpg)

> [I mean people are really crazy about minor decrements down. And then, if you act on them, then you get into reciprocation…](https://sms4smile.com/quotes/charlie-munger/i-mean-people-are-really-crazy-about-minor-decrements-down-and-then/)

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

[Image](https://sms4smile.com/quotes/i/14a/charlie-munger-458_affection_i-mean-people-are-really-crazy-about-min_322565.jpg)

> [We believe there should be a huge area between everything you should do and everything you can do without getting into legal…](https://sms4smile.com/quotes/charlie-munger/we-believe-there-should-be-a-huge-area-between-everything-you-should/)

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

[Image](https://sms4smile.com/quotes/i/535/charlie-munger-458_areas_we-believe-there-should-be-a-huge-area-b_1342655.jpg)

> [Economic systems work better when there's an extreme reliability ethos. And the traditional way to get a reliability ethos, at least in…](https://sms4smile.com/quotes/charlie-munger/economic-systems-work-better-when-there-s-an-extreme-reliability/)

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

[Image](https://sms4smile.com/quotes/i/916/charlie-munger-458_america_economic-systems-work-better-when-there_176956.jpg)

> [Of course I'm troubled by huge consumer debt levels - we've pushed consumer credit very hard in the US. Eventually, if it…](https://sms4smile.com/quotes/charlie-munger/of-course-i-m-troubled-by-huge-consumer-debt-levels-we-ve-pushed/)

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

[Image](https://sms4smile.com/quotes/i/23a/charlie-munger-458_comment_of-course-i-m-troubled-by-huge-consumer_3206251.jpg)

> [We don't claim to have perfect morals, but at least we have a huge area of things that, while legal, are beneath…](https://sms4smile.com/quotes/charlie-munger/we-don-t-claim-to-have-perfect-morals-but-at-least-we-have-a-huge/)

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

[Image](https://sms4smile.com/quotes/i/7e3/charlie-munger-458_areas_we-don-t-claim-to-have-perfect-morals-bu_1245009.jpg)

> [Organized common (or uncommon) sense -- very basic knowledge -- is an enormously powerful tool. There are huge dangers with computers. People…](https://sms4smile.com/quotes/charlie-munger/organized-common-or-uncommon-sense-very-basic-knowledge-is-an/)

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

[Image](https://sms4smile.com/quotes/i/382/charlie-munger-458_common_organized-common-or-uncommon-sense-very_466599.jpg)

## Other authors on Huge

## 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/)

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                        "text": "I think the main figure that matters to all of us, including people in the media, is: How does GDP per capita grow? And those figures have been very good. There is a huge flux both up and down, so it isn't like we're all static in status. What's important is that pie grows.",
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                        "text": "Accounting is a big subject and there are huge forces in play. The entire momentum of existing thinking and existing custom is in a direction that allows terrible follies to happen, and the terrible follies have terrible consequences.",
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                        "text": "Over the long term, it's hard for a stock to earn a much better return that the business which underlies it earns. If the business earns six percent on capital over forty years and you hold it for that forty years, you're not going to make much different than a six percent return - even if you originally buy it at a huge discount. Conversely, if a business earns eighteen percent on capital over twenty or thirty years, even if you pay an expensive looking price, you'll end up with one hell of a result.",
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                        "text": "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 that say, \"I'm a skunk and will be hard to handle?\" I've noticed that firms that avoid trouble over long periods of time have an institutional process that tunes bad clients out. Boy, if I were running a law firm, I'd want a system like that because a lot of firms have a lot of bad clients.",
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                        "text": "I mean people are really crazy about minor decrements down. And then, if you act on them, then you get into reciprocation tendency, because you don't just reciprocate affection, you reciprocate animosity, and the whole thing can escalate. And so huge insanities can come from just subconsciously over-weighing the importance of what you're losing or almost getting and not getting.",
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                        "text": "We believe there should be a huge area between everything you should do and everything you can do without getting into legal trouble. I don't think you should come anywhere near that line. We don't deserve much credit for this. It helps us make more money. I'd like to believe that we'd behave well even if it didn't work. But more often, we've made extra money from doing the right thing. Ben Franklin said I'm not moral because of it's the right thing to do - but because it's the best policy.",
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                        "text": "Economic systems work better when there's an extreme reliability ethos. And the traditional way to get a reliability ethos, at least in past generations in America, was through religion. The religions instilled guilt. ... And this guilt, derived from religion, has been a huge driver of a reliability ethos, which has been very helpful to economic outcomes for man.",
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                        "text": "Of course I'm troubled by huge consumer debt levels - we've pushed consumer credit very hard in the US. Eventually, if it keeps growing, it will stop growing. As Herb Stein said, \"If something cannot go on forever, it will stop.\" When it stops, it may be unpleasant. Other than Herb Stein's quote, I have no comment. But the things that trouble you are troubling me.",
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                        "text": "Organized common (or uncommon) sense -- very basic knowledge -- is an enormously powerful tool. There are huge dangers with computers. People calculate too much and think too little.",
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