I never allow myself to have an opinion on anything that I don't know the other side's argument better than they do. — Charlie Munger Copy Share Image
To us, investing is the equivalent of going out and betting against the pari-mutuel system. We look for a horse with one… — Charlie Munger Copy Share Image
If you have competence, you pretty much know its boundaries already. To ask the question (of whether you are past the boundary)… — 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
I have a black belt in chutzpah. I was born with it. Some people, like some of the women I know, have… — 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
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
People have always had this craving to have someone tell them the future. Long ago, kings would hire people to read sheep… — Charlie Munger Copy Share Image
[In picking stocks] You really have to know a lot about business. You have to know a lot about competitive advantage. You… — Charlie Munger Copy Share Image
I don't want to sell credit to people who are going to hurt themselves with it. You should only sell products that… — Charlie Munger Copy Share Image
To me, it's obvious that the winner has to bet very selectively. It's been obvious to me since very early in life.… — Charlie Munger Copy Share Image
Although I am very interested in the subject of human misjudgment - and lord knows I've created a good bit of it… — Charlie Munger Copy Share Image
Let me know what your problem is, and I will try to make it more difficult for you. — Charlie Munger Copy Share Image
You have to know accounting. It's the language of practical business life. It was a very useful thing to deliver to civilization.… — 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
The best thing a human being can do is to help another human being know more. — Charlie Munger Copy Share Image
I like people admitting they were complete stupid horses' asses. I know I'll perform better if I rub my nose in my… — 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
![“[In picking stocks] You really have to know a lot…” quote by Charlie Munger](https://sms4smile.com/quotes/img-quotes/496/charlie-munger-458_able_in-picking-stocks-you-really-have-to-kno_2554597.jpg)
![“They [Mc Donalds] take people and give them a first…” 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)
