I think the idea that the hedge fund manager gets lower taxes than the taxi driver or the physics professor is insane.… — Charlie Munger Copy Share Image
Our approach has worked for us. Look at the fun we, our managers, and our shareholders are having. More people should copy… — 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
I think the reason why we got into such idiocy in investment management is best illustrated by a story that I tell… — Charlie Munger Copy Share Image
We don't have an isolated group [of senior managers] surrounded by servants. Berkshire's headquarters is a tiny little suite. We just came… — 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
There are exceptional loyalties and there are old fashion ideas about how you get loyalties, and after all the auditorium is full… — Charlie Munger Copy Share Image
[With] closet indexing....you're paying a manager a fortune and he has 85% of his assets invested parallel to the indexes. If you… — 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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![“[With] closet indexing....you're paying a manager a fortune and he…” quote by Charlie Munger](https://sms4smile.com/quotes/img-quotes/9d9/charlie-munger-458_assets_with-closet-indexing-you-re-paying-a-man_3084217.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)
