Acquire worldly wisdom and adjust your behavior accordingly. If your new behavior gives you a little temporary unpopularity with your peer group… — 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… — Charlie Munger Copy Share Image
We have to have a special insight, or we'll put it in the 'too tough' basket. All of you have to look… — Charlie Munger Copy Share Image
Projections are put together by people who have an interest in a particular outcome, have a subconscious bias, and its apparent precision… — Charlie Munger Copy Share Image
It's hard to predict what will happen with two brands in a market. Sometimes they will behave in a gentlemanly way, and… — Charlie Munger Copy Share Image
People like the robber barons assumed that the doctrine of the survival of the fittest authenticated them as deserving power. You know,… — Charlie Munger Copy Share Image
Learn how to ignore the examples from others when they are wrong, because few skills are more worth having. — Charlie Munger Copy Share Image
I believe in the discipline of mastering the best that other people have ever figured out. I don't believe in just sitting… — 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
How could economics not be behavioral? If it isn't behavioral, what the hell is it? — 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
Spend each day trying to be a little wiser than you were when you woke up. — Charlie Munger Copy Share Image
An investment decision in the common stock of a company frequently involves a whole lot of factors interacting ... the one thing… — 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
Finding a single investment that will return 20% per year for 40 years tends to happen only in dreamland. In the real… — 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
Common stock investors can make money by predicting the outcomes of practice evolution. You can't derive this by fundamental analysis - you… — 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
I don't invest in what I don't understand. And I don't want to understand Facebook. — 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
It takes character to sit there with all that cash and do nothing. I didn't get to where I am by going… — Charlie Munger Copy Share Image
If you're going to be an investor, you're going to make some investments where you don't have all the experience you need.… — Charlie Munger Copy Share Image
It's in the nature of stock markets to go way down from time to time. There's no system to avoid bad markets.… — 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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