It's stupid the way people extrapolate the past -- and not slightly stupid, but massively stupid. — Charlie Munger Copy Share Image
You don't want to be like the motion picture exec who had so many people at his funeral, but they were there… — Charlie Munger Copy Share Image
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… — 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
The average result has to be the average result. By definition, everybody can't beat the market. As I always say, the iron… — Charlie Munger Copy Share Image
The stupid and dishonest accountants allowed the genie of totally inappropriate accounting to descend on derivatives books. And once this has happened… — Charlie Munger Copy Share Image
I think the foundation at Berkshire [Buffett's stake in Berkshirewill pass to the Buffett Foundation upon his death] will be a plus… — Charlie Munger Copy Share Image
I constantly see people rise in life who are not the smartest -- sometimes not even the most diligent. But they are… — Charlie Munger Copy Share Image
In my whole life, I have known no wise people who didn't read all the time - none ... ZERO. — Charlie Munger Copy Share Image
In engineering, people have a big margin of safety. But in the financial world, people don't give a damn about safety. They… — Charlie Munger Copy Share Image
Mutual funds charge 2% per year and then brokers switch people between funds, costing another 3-4 percentage points. The poor guy in… — Charlie Munger Copy Share Image
Well the open-outcry auction is just made to turn the brain into mush: you've got social proof, the other guy is bidding,… — Charlie Munger Copy Share Image
...in terms of business mistakes that I've seen over a long lifetime, I would say that trying to minimize taxes too much… — 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
Some people seem to think there's no trouble just because it hasn't happened yet. If you jump out the window at the… — Charlie Munger Copy Share Image
I'm used to people with very high IQs knowing how to recognize reality, but there's a huge human tendency where it may… — 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
When we were young, there weren't very many smart people in the investment world. You should have seen the people in the… — Charlie Munger Copy Share Image
There’s no way that you can live an adequate life without many mistakes. In fact, one trick in life is to get… — Charlie Munger Copy Share Image
If you don't keep learning, other people will pass you by. Temperament alone won't do it - you need a lot of… — Charlie Munger Copy Share Image
The hedge fund known as "Long Term Capital Management" collapsed last fall through overconfidence in its highly leveraged methods, despite I.Q.'s of… — Charlie Munger Copy Share Image
I have a black belt in chutzpah. I was born with it. Some people, like some of the women I know, have… — Charlie Munger Copy Share Image
It is remarkable how much long-term advantage people like us have gotten by trying to be consistently not stupid, instead of trying… — Charlie Munger Copy Share Image
Our standard prescription for the know-nothing investor with a long-term time horizon is a no-load index fund. I think that works better… — Charlie Munger Copy Share Image
Most people don't grab the right ideas or don't know what to do with them. — 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
![“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)
