It's a rare business that doesn't have a way worse future than it has a past. — Charlie Munger Copy Share Image
We don't have any miraculous way of avoiding taxes at Wesco and Berkshire. — Charlie Munger Copy Share Image
I feel that by getting rich in the way I did, I think my own example has hurt my own country. — Charlie Munger Copy Share Image
The only way to win is to work, work, work, work, and hope to have a few insights — Charlie Munger Copy Share Image
As I continued through Cicero's pages, I found much more material celebrating my way of life. — Charlie Munger Copy Share Image
It's stupid the way people extrapolate the past -- and not slightly stupid, but massively stupid. — Charlie Munger Copy Share Image
The Internet bubble circa 2000 is the most extreme in modern capitalism. In the 1930s, we had the worst depression in 600… — Charlie Munger Copy Share Image
The total amount paid out in dividends is roughly equal to the amount lost in trading and investment advice, so net dividends… — Charlie Munger Copy Share Image
Is anyone really surprised that Warren, who is the ultimate embodiment of concentrated decision-making power, picked somebody [Bill and Melinda Gates] who… — Charlie Munger Copy Share Image
There are a lot of things in life way more important than money. All that said, some people do get confused. I… — Charlie Munger Copy Share Image
What's the best way to get a good spouse? The best single way is to deserve a good spouse because a good… — Charlie Munger Copy Share Image
It's very useful to have a good grasp of all the big ideas in hard and soft science. A, it gives perspective.… — Charlie Munger Copy Share Image
If you rise in life, you have to behave in a certain way. You can go to a strip club if you're… — Charlie Munger Copy Share Image
Ben Franklin and Samuel Johnson, he credits their wisdom for his success. "They were both utterly brilliant men. And powerful communicators. Both… — Charlie Munger Copy Share Image
Personally, I’ve gotten so that I now use a kind of two-track analysis. First, what are the factors that really govern the… — Charlie Munger Copy Share Image
You can hire your advisor and then just apply a windage factor, like I used to do when I was a rifle… — 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… — Charlie Munger Copy Share Image
Economic systems work better when there's an extreme reliability ethos. And the traditional way to get a reliability ethos, at least in… — 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
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
Of course the self-serving bias is something you want to get out of yourself. Thinking that what's good for you is good… — Charlie Munger Copy Share Image
It's in the nature of stock markets to go way down from time to time. There's no system to avoid bad markets.… — Charlie Munger Copy Share Image
If you're going to buy something which compounds for 30 years at 15% per annum and you pay one 35% tax at… — 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
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
It's simplicity itself that its future will be way worse than its past. — Charlie Munger Copy Share Image
There's no way that you can live an adequate life without making many mistakes. — Charlie Munger Copy Share Image
The safest way to try to get what you want is to try to deserve what you want. It's such a simple… — Charlie Munger Copy Share Image
Proper accounting is like engineering. You need a margin of safety. Thank God we don't design bridges and airplanes the way we… — 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
A rough rule in life is that an organization foolish in one way in dealing with a complex system is all too… — Charlie Munger Copy Share Image
The cost of being a publicly traded stock has gone way, way up. It doesn't make sense for a little company to… — Charlie Munger Copy Share Image
The game of investing is one of making better predictions about the future than other people. How are you going to do… — Charlie Munger Copy Share Image
I know just enough about thermodynamics to understand that if it takes too much fossil-fuel energy to create ethanol, that's a very… — 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
The way to win is to work, work, work, work and hope to have a few insights And you're probably not going… — 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 tradition of always looking for the answer in the most fundamental way available - that is a great tradition, and it… — 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
![“Is anyone really surprised that Warren, who is the ultimate embodiment of concentrated decision-making power, picked somebody [Bill and Melinda Gates] who he thinks is like him in many important ways? It was a noble and sensible decision.” quote by Charlie Munger](https://sms4smile.com/quotes/img-quotes/e33/charlie-munger-458_bills_is-anyone-really-surprised-that-warren-w_1449574.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)
![“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)
