If it happens every year like clockwork, what's so extraordinary about it? — Charlie Munger Copy Share Image
If it is wisdom you're after, you're going to spend a lot of time on your ass reading. — 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
Assume life will be really tough, and then ask if you can handle it. If the answer is yes, you've won. — Charlie Munger Copy Share Image
If you have the opportunities of Berkshire, an investment in gold is dumb. — Charlie Munger Copy Share Image
It would be nice if this [finding really cheap stocks] happened all the time. Unfortunately, it doesn't. — Charlie Munger Copy Share Image
Forgetting your mistakes is a terrible error if you are trying to improve your cognition. — 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
I think gold is a great thing to sew onto your garments if you're a Jewish family in Vienna in 1939, but… — Charlie Munger Copy Share Image
Why should it be easy to do something that, if done well, two or three times, will make your family rich for… — Charlie Munger Copy Share Image
I know just enough about thermodynamics to understand that if it takes too much fossil-fuel energy to create ethanol, that's a very… — Charlie Munger Copy Share Image
If people tell you what you really don't want to hear what's unpleasant-there's an almost automatic reaction of antipathy. You have to… — 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
If you have competence, you know the edge. It wouldnt be a competence if you didnt know where the boundaries lie. Asking… — Charlie Munger Copy Share Image
If you want to understand science, you have to understand math. In business, if you're enumerate, you're going to be a klutz.… — Charlie Munger Copy Share Image
If you skillfully follow the multidisciplinary path, you will never wish to come back. It would be like cutting off your hands. — Charlie Munger Copy Share Image
I believe that we are at or near the apex of a great civilization... In 50-100 years, if we're a poor third… — Charlie Munger Copy Share Image
I think democracies are prone to inflation because politicians will naturally spend [excessively] - they have the power to print money and… — Charlie Munger Copy Share Image
The game of investing is one of making better predictions about the future than other people. How are you going to do… — Charlie Munger Copy Share Image
Of course you want to drive that out of yourself because you want to be wise, not foolish. You also have to… — 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
So you can get very remarkable investment results if you think more like a winning pari-mutuel player. Just think of it as… — Charlie Munger Copy Share Image
You need to have a passionate interest in why things are happening. That cast of mind, kept over long periods, gradually improves… — Charlie Munger Copy Share Image
...all man's desired geometric progressions, if a high rate of growth is chosen, at last come to grief on a finite earth.… — Charlie Munger Copy Share Image
If you're going to buy something which compounds for 30 years at 15% per annum and you pay one 35% tax at… — 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
I also want to raise the possibility that there are, in the very long term, "virtue effects" in economics- for instance that… — Charlie Munger Copy Share Image
We get these questions a lot from the enterprising young. It's a very intelligent question: You look at some old guy who's… — Charlie Munger Copy Share Image
At most corporations if you make an acquisition and it turns out to be a disaster, all the paperwork and presentations that… — 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
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
The ethical rule is from Samuel Johnson who believed that maintenance of easily removable ignorance by a responsible office holder was treacherous… — Charlie Munger Copy Share Image
It's been my experience in life if you just keep thinking and reading, you don't have to work. — Charlie Munger Copy Share Image
How could economics not be behavioral? If it isn't behavioral, what the hell is it? — Charlie Munger Copy Share Image
If the value of a company doesn't just scream out at you, it's too close. — Charlie Munger Copy Share Image
Intense interest in any subject is indispensable if you're really going to excel in it. — Charlie Munger Copy Share Image
You want to deliver to the world what you would buy if you were on the other end. — Charlie Munger Copy Share Image
If mutual fund directors are independent, then I'm the lead character in the Bolshoi Ballet. — Charlie Munger Copy Share Image
If you can buy the best companies, over time the pricing takes care of itself. — Charlie Munger Copy Share Image
Almost all good businesses engage in 'pain today, gain tomorrow' activities. — Charlie Munger Copy Share
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
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
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
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
The tax code gives you an enormous advantage if you can find some things you can just sit with. — Charlie Munger Copy Share
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
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
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
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
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
In the corporate world, if you have analysts, due diligence, and no horse sense, you've just described hell. — Charlie Munger Copy Share
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… — Charlie Munger Copy Share
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… — Charlie Munger Copy Share
![“It would be nice if this [finding really cheap stocks] happened all the time. Unfortunately, it doesn't.” quote by Charlie Munger](https://sms4smile.com/quotes/i/ff9/charlie-munger-458_being-nice_it-would-be-nice-if-this-finding-really_1697359.jpg)
![“I think democracies are prone to inflation because politicians will naturally spend [excessively] - they have the power to print money and will use money to get votes. If you look at inflation under the Roman Empire, with absolute rulers, they had much greater inflation, so we don't set the…” quote by Charlie Munger](https://sms4smile.com/quotes/i/3d6/charlie-munger-458_absolutes_i-think-democracies-are-prone-to-inflati_1006251.jpg)
![“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/i/18b/charlie-munger-458_approved_the-lawyers-have-escaped-most-criticism_2142390.jpg)
