I have what I call an iron prescription that helps me keep sane when I naturally drift toward preferring one ideology over… — 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… — Charlie Munger Copy Share Image
I think liberal art faculties at major universities have views that are not very sound, at least on public policy issues -… — Charlie Munger Copy Share Image
I'm not entitled to have an opinion unless I can state the arguments against my position better than the people who are… — Charlie Munger Copy Share Image
When I run into a paradox I think either I'm a total horse's ass to have gotten to this point, or I'm… — Charlie Munger Copy Share Image
People like the robber barons assumed that the doctrine of the survival of the fittest authenticated them as deserving power. You know,… — Charlie Munger Copy Share Image
I'd say 3/4 of advertising works on pure Pavlov. Think how association, pure association, works. Take Coca-Cola company (we're the biggest share-holder).… — Charlie Munger Copy Share Image
If you buy something because it's undervalued, then you have to think about selling it when it approaches your calculation of its… — Charlie Munger Copy Share Image
I find it quite useful to think of a free-market economy - or partly free market economy - as sort of the… — Charlie Munger Copy Share Image
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
Part of that, I think, is being able to tune out folly, as distinguished from recognizing wisdom. You've got whole categories of… — Charlie Munger Copy Share Image
Organized common (or uncommon) sense -- very basic knowledge -- is an enormously powerful tool. There are huge dangers with computers. People… — Charlie Munger Copy Share Image
The Berkshire-style investors tend to be less diversified than other people. The academics have done a terrible disservice to intelligent investors by… — Charlie Munger Copy Share Image
I think track records are very important. If you start early trying to have a perfect one in some simple thing like… — 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
I think that one should recognize reality even when one doesn't like it; indeed, especially when one doesn't like it. — Charlie Munger Copy Share Image
I think it is undeniably true that the human brain must work in models. The trick is to have your brain work… — Charlie Munger Copy Share Image
Look at those hedge funds - you think they can wait? They don't know how to wait! I have sat for years… — Charlie Munger Copy Share Image
Obviously if you want to get good at something which is competitive, you have to think about it and practice a lot.… — 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
I always like it when someone attractive to me agrees with me, so I have fond memories of Phil Fisher. The idea… — Charlie Munger Copy Share Image
I think the notion...that liquidity is this - of tradable common stock - is a great contributor to capitalism - I think… — Charlie Munger Copy Share Image
Black-Scholes works for short-term options, but if it's a long-term option and you think you know something [about the underlying asset], it's… — 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
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)
