The general systems of money management [today] require people to pretend to do something they can't do and like something they don't.… — Charlie Munger Copy Share Image
What matters most: passion or competence that was born in? Berkshireis full of people who have a peculiar passion for their own… — Charlie Munger Copy Share Image
Suppose you were a real estate investor with a 1/3 interest in the best apartment complex in town, the best mall, and… — Charlie Munger Copy Share Image
A lot of people think if you just had more process and more compliance -- checks and doublechecks and so forth --… — Charlie Munger Copy Share Image
You must have the confidence to override people with more credentials than you whose cognition is impaired by incentive-caused bias or some… — Charlie Munger Copy Share Image
Those of us who have been very fortunate have a duty to give back. Whether one gives a lot as one goes… — Charlie Munger Copy Share Image
People always underestimate the ability of earth to increase its carrying capacity. — Charlie Munger Copy Share Image
I try to get rid of people who always confidently answer questions about which they don't have any real knowledge. — Charlie Munger Copy Share Image
If you take sales presentations and brokers of commercial real estate and businesses... I'm 70 years old, I've never seen one I… — Charlie Munger Copy Share Image
And your brain doesn't naturally know how to think the way Zeckhauser knows how to play bridge. "for example," people do not… — Charlie Munger Copy Share Image
The ethical rule is from Samuel Johnson who believed that maintenance of easily removable ignorance by a responsible office holder was treacherous… — Charlie Munger Copy Share Image
Three rules for a career: 1) Don’t sell anything you wouldn’t buy yourself; 2) Don’t work for anyone you don’t respect and… — Charlie Munger Copy Share Image
If we've been a little more successful than other people, is because we always realised that the school of life was always… — Charlie Munger Copy Share Image
The game is to keep learning, and I don't think people are going to keep learning who don't like the learning process. — Charlie Munger Copy Share Image
Most people early achieve and later intensify a tendency to process new and disconfirming information so that any original conclusion remains intact.… — Charlie Munger Copy Share Image
I think gold is a great thing to sew onto your garments if you're a Jewish family in Vienna in 1939, but… — 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
Of course you want to drive that out of yourself because you want to be wise, not foolish. You also have to… — Charlie Munger Copy Share Image
One metric catches people. We prefer businesses that drown in cash. An example of a different business is construction equipment. You work… — 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
You'll find many markets where bottlers of Pepsi and Coke both make a lot of money and many others where they destroy… — 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
Bull markets go to people's heads. If you're a duck on a pond, and it's rising due to a downpour, you start… — Charlie Munger Copy Share Image
A few public hangings will really change behavior. One of our Presidents said if he could execute three people each year for… — 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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