The normal expectancy of the average investor - for example, the pension funds of AT&T or IBM - is 6% for a… — Charlie Munger Copy Share Image
Understanding how to be a good investor makes you a better business manager and vice versa. — 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 corporate managers should learn to be better investors because it would make them better managers. — Charlie Munger Copy Share Image
If you took our top fifteen decisions out, we'd have a pretty average record. It wasn't hyperactivity, but a hell of a… — 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'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
Suppose you were a real estate investor with a 1/3 interest in the best apartment complex in town, the best mall, and… — 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
Our standard prescription for the know-nothing investor with a long-term time horizon is a no-load index fund. I think that works better… — Charlie Munger Copy Share Image
'Crowd folly', the tendency of humans, under some circumstances, to resemble lemmings, explains much foolish thinking of brilliant men and much foolish… — Charlie Munger Copy Share Image
All the equity investors, in total, will surely bear a performance disadvantage per annum equal to the total croupiers' costs they have… — Charlie Munger Copy Share Image
A lot of people with high IQs are terrible investors because they've got terrible temperaments. And that is why we say that… — 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
![“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)