A lot of our respected financial institutions are just casinos in drag. — Charlie Munger Copy Share Image
The big money is not in the buying and selling ... but in the waiting. — Charlie Munger Copy Share Image
If (investing) weren't a little difficult, everybody would be rich. — Charlie Munger Copy Share Image
Financial institutions make us nervous when they're trying to do well. — Charlie Munger Copy Share Image
Someone will always be getting richer faster than you. This is not a tragedy. — Charlie Munger Copy Share Image
I'm proud to be associated with the value system at Berkshire Hathaway; I think you'll make more money in the end with… — Charlie Munger Copy Share Image
You don't have to have perfect wisdom to get very rich - just a bit better than average over a long period… — Charlie Munger Copy Share Image
A director who gets $150,000 per year from a company and needs the money is not independent. — Charlie Munger Copy Share Image
Missing out on some opportunity never bothers us. What's wrong with someone getting a little richer than you? It's crazy to worry… — Charlie Munger Copy Share Image
We’re partial to putting out large amounts of money where we won’t have to make another decision. — Charlie Munger Copy Share Image
Why should it be easy to do something that, if done well, two or three times, will make your family rich for… — 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
A banker who is allowed to borrow money at X and loan it out at X plus Y will just go crazy… — Charlie Munger Copy Share Image
There are a lot of things in life way more important than money. All that said, some people do get confused. I… — Charlie Munger Copy Share Image
With so much money riding on reported numbers, human nature is to manipulate them. And with so many doing it, you get… — Charlie Munger Copy Share Image
Clever derivatives broke dozens of companies. It killed them. Bankrupt. We don't need these kinds of innovation in finance. It's OK to… — Charlie Munger Copy Share Image
If all you needed to do is to figure out what company is better than others, everyone would make a lot of… — Charlie Munger Copy Share Image
We get these questions a lot from the enterprising young. It's a very intelligent question: You look at some old guy who's… — Charlie Munger Copy Share Image
After nearly making a terrible mistake not buying See's, we've made this mistake many times. We are apparently slow learners. These opportunity… — Charlie Munger Copy Share Image
there are all kinds of wonderful new inventions that give you nothing as owners except the opportunity to spend a lot more… — Charlie Munger Copy Share Image
We believe there should be a huge area between everything you should do and everything you can do without getting into legal… — Charlie Munger Copy Share Image
I have concluded that most PhD economists under appraise the power of the common-stock-based "wealth effect," under current extreme conditions... "Wealth effects"… — Charlie Munger Copy Share Image
While no real money came down, my family gave me a good education and a marvelous example of how people should behave,… — Charlie Munger Copy Share Image
I don't have too much interest in teaching other people how to get rich. And that isn't because I fear the competition… — Charlie Munger Copy Share Image
Where you have complexity, by nature you can have fraud and mistakes. You'll have more of that than in a company that… — Charlie Munger Copy Share Image
I think democracies are prone to inflation because politicians will naturally spend [excessively] - they have the power to print money and… — Charlie Munger Copy Share Image
I knew a guy who had $5 million and owned his house free and clear. But he wanted to make a bit… — 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
If all you succeed in doing in life is getting rich by buying little pieces of paper, it's a failed life. Life… — Charlie Munger Copy Share Image
Rationality is not just something you do so that you can make more money, it is a binding principle. Rationality is a… — Charlie Munger Copy Share Image
Since those don’t hit financial reports, the opportunities you had but didn’t accept, most people don’t bother thinking about them very much.… — Charlie Munger Copy Share Image
The idea of caring is that someone is making money faster [than you are] is one of the deadly sins. Envy is… — Charlie Munger Copy Share Image
There's danger in just shoveling out money to people who say, 'My life is a little harder than it used to be.'… — 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
We've had the most massive creation of wealth for people a lot younger than those who formerly got wealth in the history… — Charlie Munger Copy Share Image
I think you'll make more money in the end with good ethics than bad. Even though there are some people who do… — Charlie Munger Copy Share Image
Quoting Demosthenes, 'For what each man wishes, that he also believes to be true.' I would rather make money playing a piano… — 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
![“I think democracies are prone to inflation because politicians will naturally spend [excessively] - they have the power to print money and will use money to get votes. If you look at inflation under the Roman Empire, with absolute rulers, they had much greater inflation, so we don't set the…” quote by Charlie Munger](https://sms4smile.com/quotes/img-quotes/3d6/charlie-munger-458_absolutes_i-think-democracies-are-prone-to-inflati_1006251.jpg)
![“The idea of caring is that someone is making money faster [than you are] is one of the deadly sins. Envy is a really stupid sin because it’s the only one you could never possibly have any fun at. There’s a lot of pain and no fun. Why would you want to get on that trolley?” quote by Charlie Munger](https://sms4smile.com/quotes/img-quotes/5cd/charlie-munger-458_caring_the-idea-of-caring-is-that-someone-is-ma_2899839.jpg)
![“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)