Charlie Munger

Go to bed smarter than when you woke up.

— Charlie Munger

The best armor of old age is a well-spent life preceding it.

— Charlie Munger

Acknowledging what you don't know is the dawning of wisdom.

— Charlie Munger

I don't think vengeance is much good.

— Charlie Munger

The world is getting very much more competitive.

— Charlie Munger

...being an effective teacher is a high calling.

— Charlie Munger

In fact I've probably never seen such a wide moat.

— Charlie Munger

There is bound to be a regression toward the mean.

— Charlie Munger

Stock-picking is like gambling: those who win well, seldom bet, but when they do, they bet heavily.

— Charlie Munger

It would be easier to screw up American Express than Coke or Gillette, but it's an immensely strong business.

— Charlie Munger

If only I had the influence with my wife and children that I have in some other quarters!

— Charlie Munger

If you don't allow for self-serving bias in the conduct of others, you are, again, a fool.

— Charlie Munger

I regard the bitcoin craze as totally asinine to create some manufactured currency.

— Charlie Munger

Berkshireis not as good as it was in terms of percentage compounding [going forward], but it's still a hell of a business.

— Charlie Munger

Avoid evil, particularly if they're attractive members of the opposite sex.

— Charlie Munger

Trying to prioritize among things we're unlikely to do is pretty fruitless.

— Charlie Munger

The wise ones bet heavily when the world offers them that opportunity. They bet big when they have the odds. And the…

— Charlie Munger

In the LBO field there is a buried "covariance" with marketable equities, toward disaster in generally bad business conditions, and competition is…

— Charlie Munger

After nearly making a terrible mistake not buying See's, we've made this mistake many times. We are apparently slow learners. These opportunity…

— Charlie Munger

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

I would argue that a majority of the horrors we face would not have happened if the accounting profession developed and enforced…

— Charlie Munger

I will say this: I know no wise person who doesn't read a lot. I suspect that you can read on the…

— Charlie Munger

I have a black belt in chutzpah. I was born with it. Some people, like some of the women I know, have…

— Charlie Munger

Accounting is a big subject and there are huge forces in play. The entire momentum of existing thinking and existing custom is…

— Charlie Munger

It's hard to predict what will happen with two brands in a market. Sometimes they will behave in a gentlemanly way, and…

— Charlie Munger

Failure to handle psychological denial is a common way for people to go broke: you have made an enormous commitment to something.…

— Charlie Munger

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

Those of us who have been very fortunate have a duty to give back. Whether one gives a lot as one goes…

— Charlie Munger

When someone takes their existing business and tries to transform it into something else - they fail. In technology that is often…

— Charlie Munger

What's fascinating . . .is that you could now have a business that might have been selling for $10 billion where the…

— Charlie Munger

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

There's a lot wrong [with American universities]. I'd remove 3/4 of the faculty - everything but the hard sciences. But nobody's going…

— Charlie Munger

Berkshire's whole record has been achieved without paying one ounce of attention to the efficient market theory in its hard form. And…

— Charlie Munger

I talked to one accountant, a very nice fellow who I would have been glad to have his family marry into mine.…

— Charlie Munger

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

The ethical rule is from Samuel Johnson who believed that maintenance of easily removable ignorance by a responsible office holder was treacherous…

— Charlie Munger

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

Harvard and Yale concentrated with venture capitalists that got the best calls and brainpower. Very few firms made most of the money,…

— Charlie Munger

At most corporations if you make an acquisition and it turns out to be a disaster, all the paperwork and presentations that…

— Charlie Munger

Over the long term, it's hard for a stock to earn a much better return that the business which underlies it earns.…

— Charlie Munger