Areas Quote by Charlie Munger
“We believe there should be a huge area between everything you should do and everything you can do without getting into legal trouble. I don't think you should come anywhere near that line. We don't deserve much credit for this. It helps us make more money. I'd like to believe that we'd behave well even if it didn't work. But more often, we've made extra money from doing the right thing. Ben Franklin said I'm not moral because of it's the right thing to do - but because it's the best policy.”
About This Quote
Source Speech: Annual Shareholder Meeting, Berkshire Hathaway, 2018
He warns against exploiting legal gray areas, advocating ethical behavior even when profit is possible.
In simple terms: Do the right thing, not just the legal thing.
Key Takeaway
Prioritize ethics over shortcuts.
Themes
ethics
law
profit
integrity
Mood
cautious
thoughtful
Type
philosophical
advice
When to use this quote
- business decisions
- investment strategies
- policy making
- corporate governance
Key Concepts
moral philosophy
risk management
Questions to Reflect On
- What incentives push you toward ethical shortcuts?
- How can organizations reinforce moral behavior?
A Different Perspective
Legal loopholes can erode trust and reputation.
![“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)
![“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)
![“I am somewhat influenced by the years that I've spent trying to actually get things done, whether it was reforming education in Arkansas or a survey and Legal Services Corporation board when President [Jimmy ]Carter appointed me and trying to get lawyers for poor people. I have worked in these…” quote by Hillary Clinton](https://sms4smile.com/quotes/img-quotes/6c7/hillary-clinton-51_action_i-am-somewhat-influenced-by-the-years-th_9078.jpg)
