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
I think the idea that the hedge fund manager gets lower taxes than the taxi driver or the physics professor is insane.… — Charlie Munger Copy Share Image
The Berkshire-style investors tend to be less diversified than other people. The academics have done a terrible disservice to intelligent investors by… — Charlie Munger Copy Share Image
I got at a very early age, the idea that the safest way to try and get what you want, is to… — 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
Rationality is not just something you do so that you can make more money, it is a binding principle. Rationality is a… — 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
To finish first you have to first finish. Don't get in a position where you go back to go. What's interesting is… — Charlie Munger Copy Share Image
The idea of excessive diversification is madness. Wide diversification, which necessarily includes investment in mediocre businesses, only guarantees ordinary results. — Charlie Munger Copy Share Image
I think there's an awful lot of twaddle and bullshit on EVA. The whole game is to turn retained earnings into more… — Charlie Munger Copy Share Image
If you get into the mental habit of relating what you're reading to the basic structure of the underlying ideas being demonstrated,… — Charlie Munger Copy Share Image
An idea or a fact is not worth more merely because it's more available to you. — Charlie Munger Copy Share Image
If you can get good at destroying your own wrong ideas, that is a great gift. — Charlie Munger Copy Share Image
The safest way to try to get what you want is to try to deserve what you want. It's such a simple… — Charlie Munger Copy Share Image
For some odd reason, I had an early and extreme multidisciplinary cast of mind. I couldn't stand reaching for a small idea… — Charlie Munger Copy Share Image
Most people don't grab the right ideas or don't know what to do with them. — Charlie Munger Copy Share Image
The number one idea is to view a stock as an ownership of the business and to judge the staying quality of… — Charlie Munger Copy Share Image
You have to have a temperament to grab ideas and do sensible things. Most people don’t grab the right ideas or don’t… — Charlie Munger Copy Share Image
The idea of caring is that someone is making money faster [than you are] is one of the deadly sins. Envy is… — Charlie Munger Copy Share Image
My idea of a good place to shop is Costco - it has these heavily marbled fillet steaks. The idea of eating… — Charlie Munger Copy Share Image
Any year that you don't destroy one of your best-loved ideas is probably a wasted year — Charlie Munger Copy Share Image
You have to realize the truth of biologist Julian Huxley's idea that 'Life is just one damn relatedness after another' "So you… — Charlie Munger Copy Share Image
If you can get really good at destroying your own wrong ideas, that is a great gift. — Charlie Munger Copy Share Image
There are exceptional loyalties and there are old fashion ideas about how you get loyalties, and after all the auditorium is full… — Charlie Munger Copy Share Image
You must force yourself to consider opposing arguments. Especially when they challenge your best loved ideas. — Charlie Munger Copy Share Image
You must know the big ideas in the big disciplines, and use them routinely - all of them, not just a few.… — 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 idea of caring is that someone is making money faster [than you are] is one of the deadly sins. Envy is a really stupid sin because it’s the only one you could never possibly have any fun at. There’s a lot of pain and no fun. Why would you want to get on that trolley?” quote by Charlie Munger](https://sms4smile.com/quotes/img-quotes/5cd/charlie-munger-458_caring_the-idea-of-caring-is-that-someone-is-ma_2899839.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)