If you have the opportunities of Berkshire, an investment in gold is dumb. — Charlie Munger Copy Share Image
It takes character to sit there with all that cash and do nothing. I didn't get to where I am by going… — 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
The wise ones bet heavily when the world offers them that opportunity. They bet big when they have the odds. And the… — 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
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
Opportunity cost is a huge filter in life. If you've got two suitors who are really eager to have you and one… — Charlie Munger Copy Share Image
A lot of opportunities in life tend to last a short while, due to some temporary inefficiency... For each of us, really… — 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
"[Lawyers who file class-action securities suits] is not a group you would want to marry into your family. "That said, more than… — Charlie Munger Copy Share Image
We're guessing at our future opportunity cost. Warrenis guessing that he'll have the opportunity to put capital out at high rates of… — Charlie Munger Copy Share Image
Obviously, consideration of costs is key, including opportunity costs. Of course capital isn't free. It's easy to figure out your cost of… — Charlie Munger Copy Share Image
A few major opportunities, clearly recognizable as such, will usually come to one who continuously searches and waits, with a curious mind,… — Charlie Munger Copy Share Image
Finding a single investment that will return 20% per year for 40 years tends to happen only in dreamland. In the real… — Charlie Munger Copy Share Image
It's not given to human beings to have such talent that they can just know everything about everything all the time. But… — Charlie Munger Copy Share Image
If you have only a little capital and are young today, there are fewer opportunities than when I was young. Back then,… — 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
![“[Lawyers who file class-action securities suits] is not a group you would want to marry into your family. "That said, more than half the time the people being sued by the Lerach firm are guilty of outrageous conduct. The problem is, they don't mind (suing) the other half. They are an equal…” quote by Charlie Munger](https://sms4smile.com/quotes/img-quotes/737/charlie-munger-458_action_lawyers-who-file-class-action-securities_2421734.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)