If you want good behavior, don't pay on a commission basis. Our judges aren't paid so much a case. We keep them… — Charlie Munger Copy Share Image
I've heard that one-half of the students at elite schools want to go into private equity or hedge funds. They want to… — Charlie Munger Copy Share Image
There has never been a master plan. Anyone who wanted to do it, we fired because it takes on a life of… — Charlie Munger Copy Share Image
If people tell you what you really don't want to hear what's unpleasant-there's an almost automatic reaction of antipathy. You have to… — 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
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
This is an amazingly sound place. We are more disaster-resistant than most other places. We haven't pushed it as hard as other… — Charlie Munger Copy Share Image
I got at a very early age, the idea that the safest way to try and get what you want, is to… — Charlie Munger Copy Share Image
...People need to ask, "How do I play the hand that has been dealt me?" The world is not going to give… — 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 don't invest in what I don't understand. And I don't want to understand Facebook. — 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
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 success in life and business comes from knowing what you want to avoid: early death, a bad marriage, etc. — Charlie Munger Copy Share Image
Avoid working directly under somebody you don't admire and don't want to be like. — Charlie Munger Copy Share Image
Anyone with an engineering frame of mind will look at [accounting standards] and want to throw up. — Charlie Munger Copy Share Image
The game of life is the game of everlasting learning. At least it is if you want to win. — Charlie Munger Copy Share Image
At most corporations if you make an acquisition and it turns out to be a disaster, all the paperwork and presentations that… — 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
Another thing I think should be avoided is extremely intense ideology because it cabbages up one's mind. You see it a lot… — Charlie Munger Copy Share Image
The interesting thing about it to me is the mindset. With all these "helpers" running around, they talk about doing deals. We… — Charlie Munger Copy Share Image
It would be one of the most irritating experiences in the world to do a lot of work to uncover a fraud… — 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
What do you want to avoid? Such an easy answer: sloth and unreliability. If you're unreliable it doesn't matter what your virtues… — 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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