How could economics not be behavioral? If it isn't behavioral, what the hell is it? — Charlie Munger Copy Share Image
The more hard lessons you can learn vicariously rather than through your own hard experience, the better. — Charlie Munger Copy Share Image
You're looking for a mispriced gamble. That's what investing is. And you have to know enough to know whether the gamble is… — Charlie Munger Copy Share Image
Deliver to the world what you would buy if you were on the other end. — Charlie Munger Copy Share Image
I think that one should recognize reality even when one doesn't like it; indeed, especially when one doesn't like 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
Avoid working directly under somebody you don't admire and don't want to be like. — Charlie Munger Copy Share Image
Whoever makes you smarter a little earlier in life makes you better — 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
If you can get good at destroying your own wrong ideas, that is a great gift. — Charlie Munger Copy Share Image
When you locate a bargain, you must ask, 'Why me, God? Why am I the only one who could find this bargain?' — Charlie Munger Copy Share Image
You're not going to get very far in life based on what you already know. You're going to advance in life by… — Charlie Munger Copy Share Image
The only way to win is to work, work, work, work, and hope to have a few insights — Charlie Munger Copy Share Image
Those who will not face improvements because they are changes, will face changes that are not improvements. — 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
Never, ever, think about something else when you should be thinking about the power of incentives. — 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
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