--- title: "6 Lots of money Quotes By Charlie Munger" description: "6 Lots of money quotes by Charlie Munger. Plus more from Charlie Munger and more Lots of money sayings from other authors." image: "https://sms4smile.com/quotes/i/59d/charlie-munger-458_behave_it-s-hard-to-predict-what-will-happen-wi_167396.jpg" --- > [It's hard to predict what will happen with two brands in a market. Sometimes they will behave in a gentlemanly way, and…](https://sms4smile.com/quotes/charlie-munger/it-s-hard-to-predict-what-will-happen-with-two-brands-in-a-market/) [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) [Image](https://sms4smile.com/quotes/i/59d/charlie-munger-458_behave_it-s-hard-to-predict-what-will-happen-wi_167396.jpg) > [You'll find many markets where bottlers of Pepsi and Coke both make a lot of money and many others where they destroy…](https://sms4smile.com/quotes/charlie-munger/you-ll-find-many-markets-where-bottlers-of-pepsi-and-coke-both-make-a/) [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) [Image](https://sms4smile.com/quotes/i/241/charlie-munger-458_adjustment_you-ll-find-many-markets-where-bottlers_1364267.jpg) > [I’d say that Berkshire Hathaway’s system is adapting to the nature of the investment problem as it really is. We’ve really made…](https://sms4smile.com/quotes/charlie-munger/i-d-say-that-berkshire-hathaway-s-system-is-adapting-to-the-nature-of/) [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) [Image](https://sms4smile.com/quotes/i/3a6/charlie-munger-458_adapting_i-d-say-that-berkshire-hathaway-s-system_1687521.jpg) > [ Chris Davis \[of the Davisfunds\] has a temple of shame. He celebrates the things they did that lost them a lot of… ](https://sms4smile.com/quotes/charlie-munger/chris-davis-of-the-davisfunds-has-a-temple-of-shame-he-celebrates-the/) [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) [Image](https://sms4smile.com/quotes/i/5af/charlie-munger-458_categories_chris-davis-of-the-davisfunds-has-a-temp_1992003.jpg) > [When we were young, there weren't very many smart people in the investment world. You should have seen the people in the…](https://sms4smile.com/quotes/charlie-munger/when-we-were-young-there-weren-t-very-many-smart-people-in-the/) [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) [Image](https://sms4smile.com/quotes/i/1f3/charlie-munger-458_advantage_when-we-were-young-there-weren-t-very-ma_2170298.jpg) > [ \[GEICO\] got to thinking that, because they were making a lot of money, they knew everything. And they suffered huge losses. All… ](https://sms4smile.com/quotes/charlie-munger/geico-got-to-thinking-that-because-they-were-making-a-lot-of-money/) [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) [Image](https://sms4smile.com/quotes/i/885/charlie-munger-458_business_geico-got-to-thinking-that-because-they_3226286.jpg) ## Other authors on Lots of money - [ ![](https://sms4smile.com/quotes/wp-content/uploads/sms4s/authors/processed/b008/author-donald-trump-30060.jpg) Donald Trump 17 quotes ](https://sms4smile.com/quotes/about/lots-of-money/donald-trump/) - [Warren Buffett 9 quotes](https://sms4smile.com/quotes/about/lots-of-money/warren-buffett/) - [ ![](https://sms4smile.com/quotes/wp-content/uploads/sms4s/authors/processed/b012/author-jay-leno-47716.jpg) Jay Leno 5 quotes ](https://sms4smile.com/quotes/about/lots-of-money/jay-leno/) ## More by Charlie Munger > [Almost all good businesses engage in 'pain today, gain tomorrow' activities.](https://sms4smile.com/quotes/charlie-munger/almost-all-good-businesses-engage-in-pain-today-gain-tomorrow/) [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) > [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…](https://sms4smile.com/quotes/charlie-munger/if-you-want-good-behavior-don-t-pay-on-a-commission-basis-our-judges/) [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) > [Acquire worldly wisdom and adjust your behavior accordingly. If your new behavior gives you a little temporary unpopularity with your peer group then to…](https://sms4smile.com/quotes/charlie-munger/acquire-worldly-wisdom-and-adjust-your-behavior-accordingly-if-your/) [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) > [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…](https://sms4smile.com/quotes/charlie-munger/i-think-time-and-time-again-in-reality-psychological-notions-and/) [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) > [I have what I call an iron prescription that helps me keep sane when I naturally drift toward preferring one ideology over another and…](https://sms4smile.com/quotes/charlie-munger/i-have-what-i-call-an-iron-prescription-that-helps-me-keep-sane-when/) [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) > [The tax code gives you an enormous advantage if you can find some things you can just sit with.](https://sms4smile.com/quotes/charlie-munger/the-tax-code-gives-you-an-enormous-advantage-if-you-can-find-some/) [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) > [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…](https://sms4smile.com/quotes/charlie-munger/the-great-lesson-in-microeconomics-is-to-discriminate-between-when/) [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) > [Some years ago one oil company bought a fertilizer company, and every other major oil company practically ran out and bought a fertilizer company.…](https://sms4smile.com/quotes/charlie-munger/some-years-ago-one-oil-company-bought-a-fertilizer-company-and-every/) [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) > [ They \[Mc Donalds\] take people and give them a first job, which enables them to get a second job. They do a very good… ](https://sms4smile.com/quotes/charlie-munger/they-mc-donalds-take-people-and-give-them-a-first-job-which-enables/) [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) > [What good is envy? It’s the one sin you can’t have any fun at.](https://sms4smile.com/quotes/charlie-munger/what-good-is-envy-it-s-the-one-sin-you-can-t-have-any-fun-at/) [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) > [We believe that almost all really good investment records will involve relatively little diversification. The basic idea that it was hard to find good…](https://sms4smile.com/quotes/charlie-munger/we-believe-that-almost-all-really-good-investment-records-will/) [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) > [It is way less certain to be a wonderful business in the future. The threat is alternative mediums of information. Every newspaper is scrambling…](https://sms4smile.com/quotes/charlie-munger/it-is-way-less-certain-to-be-a-wonderful-business-in-the-future-the/) [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) > [In the corporate world, if you have analysts, due diligence, and no horse sense, you've just described hell.](https://sms4smile.com/quotes/charlie-munger/in-the-corporate-world-if-you-have-analysts-due-diligence-and-no/) [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) > [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…](https://sms4smile.com/quotes/charlie-munger/we-have-to-have-a-special-insight-or-we-ll-put-it-in-the-too-tough/) [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) > [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…](https://sms4smile.com/quotes/charlie-munger/i-ve-heard-that-one-half-of-the-students-at-elite-schools-want-to-go/) [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "ItemList", "@id": "https://sms4smile.com/quotes/about/lots-of-money/charlie-munger/#itemlist", "name": "6 Lots of money Quotes By Charlie Munger", "numberOfItems": 6, "itemListElement": [ { "@type": "ListItem", "position": 1, "item": { "@type": "Quotation", "text": "It's hard to predict what will happen with two brands in a market. Sometimes they will behave in a gentlemanly way, and sometimes they'll pound each other. I know of no way to predict whether they'll compete moderately or to the death. 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I think you 'd have to know the people involved to fully understand what was happening.", "creator": { "@type": "Person", "name": "Charlie Munger" }, "url": "https://sms4smile.com/quotes/charlie-munger/you-ll-find-many-markets-where-bottlers-of-pepsi-and-coke-both-make-a/", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/241/charlie-munger-458_adjustment_you-ll-find-many-markets-where-bottlers_1364267.jpg", "contentUrl": "https://sms4smile.com/quotes/i/241/charlie-munger-458_adjustment_you-ll-find-many-markets-where-bottlers_1364267.jpg", "url": "https://sms4smile.com/quotes/i/241/charlie-munger-458_adjustment_you-ll-find-many-markets-where-bottlers_1364267.jpg", "width": 1080, "height": 1080, "caption": "“You'll find many markets where bottlers of Pepsi and Coke both make a lot of money and many others where…” — Charlie Munger", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } } }, { "@type": "ListItem", "position": 3, "item": { "@type": "Quotation", "text": "I’d say that Berkshire Hathaway’s system is adapting to the nature of the investment problem as it really is. We’ve really made the money out of high quality businesses. In some cases, we bought the whole business. And in some cases, we just bought a big block of stock. But when you analyze what happened, the big money’s been made in the high quality businesses. 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He celebrates the things they did that lost them a lot of money. What is also needed is a temple of shame squared for things you didn't do that would have made you rich. Forgetting your mistakes is a terrible error if you are trying to improve your cognition. Reality doesn't remind you. 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All they had to do was to cut out all the folly and go back to the perfectly wonderful business that was lying there.", "creator": { "@type": "Person", "name": "Charlie Munger" }, "url": "https://sms4smile.com/quotes/charlie-munger/geico-got-to-thinking-that-because-they-were-making-a-lot-of-money/", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/885/charlie-munger-458_business_geico-got-to-thinking-that-because-they_3226286.jpg", "contentUrl": "https://sms4smile.com/quotes/i/885/charlie-munger-458_business_geico-got-to-thinking-that-because-they_3226286.jpg", "url": "https://sms4smile.com/quotes/i/885/charlie-munger-458_business_geico-got-to-thinking-that-because-they_3226286.jpg", "width": 1080, "height": 1080, "caption": "“[GEICO] got to thinking that, because they were making a lot of money, they knew everything. 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