--- title: "Meaning & Key Takeaway of: I think you'll make more money in the end…" description: "\"I think you'll make more money in the end with good ethics than bad. Even though there are some people who do very well, like Marc Rich-who plainly has..." image: "https://sms4smile.com/quotes/i/0ff/charlie-munger-458_buffett_i-think-you-ll-make-more-money-in-the-en_2134453.jpg" --- # I think you'll make more money in the end with good ethics… ![“I think you'll make more money in the end with good ethics than bad. Even though there are some people who do very well, like Marc Rich-who plainly has never had any decent ethics, or seldom anyway. But in the end, Warren Buffett has done better than Marc Rich-in money-not just in reputation.” quote by Charlie Munger](https://sms4smile.com/quotes/i/0ff/charlie-munger-458_buffett_i-think-you-ll-make-more-money-in-the-en_2134453.jpg) [Download](https://sms4smile.com/quotes/i/0ff/charlie-munger-458_buffett_i-think-you-ll-make-more-money-in-the-en_2134453.jpg) [Open image](https://sms4smile.com/quotes/i/0ff/charlie-munger-458_buffett_i-think-you-ll-make-more-money-in-the-en_2134453.jpg) > “I think you'll make more money in the end with good ethics than bad. Even though there are some people who do very well, like Marc Rich-who plainly has never had any decent ethics, or seldom anyway. But in the end, Warren Buffett has done better than Marc Rich-in money-not just in reputation.” [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Long‑term success stems from ethical behavior, which ultimately yields greater wealth than short‑term gains through dishonesty. **In simple terms:** Ethics bring lasting profit. Key Takeaway Prioritize integrity over shortcuts. Themes ethics wealth reputation long‑term success Mood thoughtful inspirational Type advice philosophical When to use this quote - business leadership - investment decisions - personal branding - career planning Key Concepts Moral philosophy behavioral economics trust Questions to Reflect On - How can you align profit goals with ethical standards? - What short‑term sacrifices might you make for long‑term integrity? A Different Perspective Ethical choices can be slower and may face competitive pressure. ★ ★ ★ ★ ★ No ratings yet [Customer](https://sms4smile.com/quotes/about/customer/) [Ethics](https://sms4smile.com/quotes/about/ethics/) [Money](https://sms4smile.com/quotes/about/money/) [People](https://sms4smile.com/quotes/about/people/) [Philosophy](https://sms4smile.com/quotes/about/philosophy/) [Reputation](https://sms4smile.com/quotes/about/reputation/) [Thinking](https://sms4smile.com/quotes/about/thinking/) ## Related quotes > [I've been associated with Warren ( Buffett) so long, I thought I'd be just a footnote.](https://sms4smile.com/quotes/charlie-munger/i-ve-been-associated-with-warren-buffett-so-long-i-thought-i-d-be/) [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) > [I think Buffett is a better investor than me because he has a better eye toward what makes a great business. And when I…](https://sms4smile.com/quotes/seth-klarman/i-think-buffett-is-a-better-investor-than-me-because-he-has-a-better/) [Seth Klarman](https://sms4smile.com/quotes/author/seth-klarman/) > [Warren Buffett has said many times that people either get value investing in five minutes or they won't get it in five years. So,…](https://sms4smile.com/quotes/mohnish-pabrai/warren-buffett-has-said-many-times-that-people-either-get-value/) [Mohnish Pabrai](https://sms4smile.com/quotes/author/mohnish-pabrai/) > [To value investors the concept of indexing is at best silly and at worst quite hazardous. Warren Buffett has observed that "in any sort…](https://sms4smile.com/quotes/seth-klarman/to-value-investors-the-concept-of-indexing-is-at-best-silly-and-at/) [Seth Klarman](https://sms4smile.com/quotes/author/seth-klarman/) > [ Investing in innovation, which was my broad theme talking to \[Warren Buffett \], that included health vaccines, it included energy and education. ](https://sms4smile.com/quotes/bill-gates/investing-in-innovation-which-was-my-broad-theme-talking-to-warren/) [Bill Gates](https://sms4smile.com/quotes/author/bill-gates/) > [President Obama likes to talk about the Buffett Rule. Well, here's a Buffett Rule that all Americans should be able to support: mom and…](https://sms4smile.com/quotes/rob-portman/president-obama-likes-to-talk-about-the-buffett-rule-well-here-s-a/) [Rob Portman](https://sms4smile.com/quotes/author/rob-portman/) > [Right at the core, the mainstream has it backwards. Warren Buffett often quips that the first rule of investing is to not lose money,…](https://sms4smile.com/quotes/seth-klarman/right-at-the-core-the-mainstream-has-it-backwards-warren-buffett/) [Seth Klarman](https://sms4smile.com/quotes/author/seth-klarman/) > [Warren Buffett's company reportedly owes the IRS a billion dollars in back taxes. When he said he wasn't paying enough taxes, he wasn't kidding.](https://sms4smile.com/quotes/jay-leno/warren-buffett-s-company-reportedly-owes-the-irs-a-billion-dollars-in/) [Jay Leno](https://sms4smile.com/quotes/author/jay-leno/) > [Actually, I bought one share of Warren Buffett's stock, probably 35 years ago, in order to read his letters.](https://sms4smile.com/quotes/sam-wyly/actually-i-bought-one-share-of-warren-buffett-s-stock-probably-35/) [Sam Wyly](https://sms4smile.com/quotes/author/sam-wyly/) > [Like my friend Warren Buffett, I feel particularly lucky to do something every day that I love to do. He calls it "tap dancing…](https://sms4smile.com/quotes/bill-gates/like-my-friend-warren-buffett-i-feel-particularly-lucky-to-do/) [Bill Gates](https://sms4smile.com/quotes/author/bill-gates/) > [Good for Warren Buffett that he can afford to do that! Some people, sometimes, need to finance a purchase or rent a car, and…](https://sms4smile.com/quotes/elizabeth-warren/good-for-warren-buffett-that-he-can-afford-to-do-that-some-people/) [Elizabeth Warren](https://sms4smile.com/quotes/author/elizabeth-warren/) > [Wal-Mart, with its legendary focus on customer value in terms of price, is innovating in sustainability. Now, we're beginning to see the mirror image,…](https://sms4smile.com/quotes/james-m-strock/wal-mart-with-its-legendary-focus-on-customer-value-in-terms-of-price/) [James M Strock](https://sms4smile.com/quotes/author/james-m-strock/) > [Warren Buffett once wrote that value investing is like an inoculation--it either takes or it doesn't--and when you explain to somebody what it is…](https://sms4smile.com/quotes/seth-klarman/warren-buffett-once-wrote-that-value-investing-is-like-an-inoculation/) [Seth Klarman](https://sms4smile.com/quotes/author/seth-klarman/) > [If you look at anyone who has achieved great success and wealth, people like Warren Buffett, Oprah Winfrey, or Lance Armstrong, they have all…](https://sms4smile.com/quotes/robert-kiyosaki/if-you-look-at-anyone-who-has-achieved-great-success-and-wealth/) [Robert Kiyosaki](https://sms4smile.com/quotes/author/robert-kiyosaki/) > [All capitalists should be like Warren Buffett, and he says he should be taxed more.](https://sms4smile.com/quotes/ed-asner/all-capitalists-should-be-like-warren-buffett-and-he-says-he-should/) [Ed Asner](https://sms4smile.com/quotes/author/ed-asner/) ## More by Charlie Munger > [Almost all good businesses engage in 'pain today, gain tomorrow' activities.](https://sms4smile.com/quotes/charlie-munger/almost-all-good-businesses-engage-in-pain-today-gain-tomorrow/) [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) > [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…](https://sms4smile.com/quotes/charlie-munger/if-you-want-good-behavior-don-t-pay-on-a-commission-basis-our-judges/) [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) > [Acquire worldly wisdom and adjust your behavior accordingly. If your new behavior gives you a little temporary unpopularity with your peer group then to…](https://sms4smile.com/quotes/charlie-munger/acquire-worldly-wisdom-and-adjust-your-behavior-accordingly-if-your/) [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) > [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…](https://sms4smile.com/quotes/charlie-munger/i-think-time-and-time-again-in-reality-psychological-notions-and/) [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) > [I have what I call an iron prescription that helps me keep sane when I naturally drift toward preferring one ideology over another and…](https://sms4smile.com/quotes/charlie-munger/i-have-what-i-call-an-iron-prescription-that-helps-me-keep-sane-when/) [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) > [The tax code gives you an enormous advantage if you can find some things you can just sit with.](https://sms4smile.com/quotes/charlie-munger/the-tax-code-gives-you-an-enormous-advantage-if-you-can-find-some/) [Charlie Munger](https://sms4smile.com/quotes/author/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 you. And…](https://sms4smile.com/quotes/charlie-munger/the-great-lesson-in-microeconomics-is-to-discriminate-between-when/) [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) > [Some years ago one oil company bought a fertilizer company, and every other major oil company practically ran out and bought a fertilizer company.…](https://sms4smile.com/quotes/charlie-munger/some-years-ago-one-oil-company-bought-a-fertilizer-company-and-every/) [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) > [ They \[Mc Donalds\] take people and give them a first job, which enables them to get a second job. They do a very good… ](https://sms4smile.com/quotes/charlie-munger/they-mc-donalds-take-people-and-give-them-a-first-job-which-enables/) [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) > [What good is envy? It’s the one sin you can’t have any fun at.](https://sms4smile.com/quotes/charlie-munger/what-good-is-envy-it-s-the-one-sin-you-can-t-have-any-fun-at/) [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) > [We believe that almost all really good investment records will involve relatively little diversification. The basic idea that it was hard to find good…](https://sms4smile.com/quotes/charlie-munger/we-believe-that-almost-all-really-good-investment-records-will/) [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) > [It is way less certain to be a wonderful business in the future. The threat is alternative mediums of information. Every newspaper is scrambling…](https://sms4smile.com/quotes/charlie-munger/it-is-way-less-certain-to-be-a-wonderful-business-in-the-future-the/) [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) > [In the corporate world, if you have analysts, due diligence, and no horse sense, you've just described hell.](https://sms4smile.com/quotes/charlie-munger/in-the-corporate-world-if-you-have-analysts-due-diligence-and-no/) [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) > [We have to have a special insight, or we'll put it in the 'too tough' basket. All of you have to look for a…](https://sms4smile.com/quotes/charlie-munger/we-have-to-have-a-special-insight-or-we-ll-put-it-in-the-too-tough/) [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) > [I've heard that one-half of the students at elite schools want to go into private equity or hedge funds. They want to keep up…](https://sms4smile.com/quotes/charlie-munger/i-ve-heard-that-one-half-of-the-students-at-elite-schools-want-to-go/) [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) [Explore all 544 Charlie Munger quotes ](https://sms4smile.com/quotes/author/charlie-munger/) ## More Buffett quotes > [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…](https://sms4smile.com/quotes/charlie-munger/the-great-lesson-in-microeconomics-is-to-discriminate-between-when/) [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) > [I admire people like Warren Buffett that are donating so much money to charity.](https://sms4smile.com/quotes/bethenny-frankel/i-admire-people-like-warren-buffett-that-are-donating-so-much-money/) [Bethenny Frankel](https://sms4smile.com/quotes/author/bethenny-frankel/) > [All capitalists should be like Warren Buffett, and he says he should be taxed more.](https://sms4smile.com/quotes/ed-asner/all-capitalists-should-be-like-warren-buffett-and-he-says-he-should/) [Ed Asner](https://sms4smile.com/quotes/author/ed-asner/) > [If you look at anyone who has achieved great success and wealth, people like Warren Buffett, Oprah Winfrey, or Lance Armstrong, they have all…](https://sms4smile.com/quotes/robert-kiyosaki/if-you-look-at-anyone-who-has-achieved-great-success-and-wealth/) [Robert Kiyosaki](https://sms4smile.com/quotes/author/robert-kiyosaki/) > [Warren Buffett once wrote that value investing is like an inoculation--it either takes or it doesn't--and when you explain to somebody what it is…](https://sms4smile.com/quotes/seth-klarman/warren-buffett-once-wrote-that-value-investing-is-like-an-inoculation/) [Seth Klarman](https://sms4smile.com/quotes/author/seth-klarman/) > [Warren Buffett pays taxes on a smaller percentage of his billions in income than his cleaning lady.](https://sms4smile.com/quotes/eric-alterman/warren-buffett-pays-taxes-on-a-smaller-percentage-of-his-billions-in/) [Eric Alterman](https://sms4smile.com/quotes/author/eric-alterman/) > [If there are still honest-smart men and women within those old and noble traditions, they should think carefully, observe and diagnose the illness. They…](https://sms4smile.com/quotes/david-brin/if-there-are-still-honest-smart-men-and-women-within-those-old-and/) [David Brin](https://sms4smile.com/quotes/author/david-brin/) > [ There's a clarity that comes with great ideas: You can \[easily and simply\] explain why something's a great business, how and why it's cheap,… ](https://sms4smile.com/quotes/joel-greenblatt/there-s-a-clarity-that-comes-with-great-ideas-you-can-easily-and/) [Joel Greenblatt](https://sms4smile.com/quotes/author/joel-greenblatt/) > [Wal-Mart, with its legendary focus on customer value in terms of price, is innovating in sustainability. Now, we're beginning to see the mirror image,…](https://sms4smile.com/quotes/james-m-strock/wal-mart-with-its-legendary-focus-on-customer-value-in-terms-of-price/) [James M Strock](https://sms4smile.com/quotes/author/james-m-strock/) > [I love whenever they downgrade a hurricane to a tropical depression, because I always think of a tropical depression as how I feel three…](https://sms4smile.com/quotes/andy-kindler/i-love-whenever-they-downgrade-a-hurricane-to-a-tropical-depression/) [Andy Kindler](https://sms4smile.com/quotes/author/andy-kindler/) > [Buffett's uncommon urge to chronicle made him a unique character in American life, not only a great capitalist but the Great Explainer of American…](https://sms4smile.com/quotes/roger-lowenstein/buffett-s-uncommon-urge-to-chronicle-made-him-a-unique-character-in/) [Roger Lowenstein](https://sms4smile.com/quotes/author/roger-lowenstein/) > [Vladimir Putin is the wealthiest man on the planet, for sure. But this is different to the wealth of a Bill Gates or a…](https://sms4smile.com/quotes/garry-kasparov/vladimir-putin-is-the-wealthiest-man-on-the-planet-for-sure-but-this/) [Garry Kasparov](https://sms4smile.com/quotes/author/garry-kasparov/) > [As Buffett has often observed, value investing is not a concept that can be learned and gradually applied over time. It is either absorbed…](https://sms4smile.com/quotes/seth-klarman/as-buffett-has-often-observed-value-investing-is-not-a-concept-that/) [Seth Klarman](https://sms4smile.com/quotes/author/seth-klarman/) > [If P=NP, then the world would be a profoundly different place than we usually assume it to be. There would be no special value…](https://sms4smile.com/quotes/scott-aaronson/if-p-np-then-the-world-would-be-a-profoundly-different-place-than-we/) [Scott Aaronson](https://sms4smile.com/quotes/author/scott-aaronson/) > [Good for Warren Buffett that he can afford to do that! Some people, sometimes, need to finance a purchase or rent a car, and…](https://sms4smile.com/quotes/elizabeth-warren/good-for-warren-buffett-that-he-can-afford-to-do-that-some-people/) [Elizabeth Warren](https://sms4smile.com/quotes/author/elizabeth-warren/) Browse all 73 Buffett quotes ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "I think you'll make more money in the end with good ethics than bad. Even though there are some people who do very well, like Marc Rich-who plainly has never had any decent ethics, or seldom anyway. But in the end, Warren Buffett has done better than Marc Rich-in money-not just in reputation.", "creator": { "@type": "Person", "name": "Charlie Munger" }, "isPartOf": { "@id": "https://sms4smile.com/quotes/#website" }, "url": "https://sms4smile.com/quotes/charlie-munger/i-think-you-ll-make-more-money-in-the-end-with-good-ethics-than-bad/", "about": { "@type": "Thing", "name": "Buffett" }, "@id": "https://sms4smile.com/quotes/charlie-munger/i-think-you-ll-make-more-money-in-the-end-with-good-ethics-than-bad/#quotation", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/0ff/charlie-munger-458_buffett_i-think-you-ll-make-more-money-in-the-en_2134453.jpg", "contentUrl": "https://sms4smile.com/quotes/i/0ff/charlie-munger-458_buffett_i-think-you-ll-make-more-money-in-the-en_2134453.jpg", "url": "https://sms4smile.com/quotes/i/0ff/charlie-munger-458_buffett_i-think-you-ll-make-more-money-in-the-en_2134453.jpg", "width": 1080, "height": 1080, "caption": "“I think you'll make more money in the end with good ethics than bad. Even though there are some people who…” — Charlie Munger", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } }, { "@type": "BreadcrumbList", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://sms4smile.com/" }, { "@type": "ListItem", "position": 2, "name": "Quotes", "item": "https://sms4smile.com/quotes/" }, { "@type": "ListItem", "position": 3, "name": "Charlie Munger", "item": "https://sms4smile.com/quotes/author/charlie-munger/" }, { "@type": "ListItem", "position": 4, "name": "I think you'll make more money...", "item": "https://sms4smile.com/quotes/charlie-munger/i-think-you-ll-make-more-money-in-the-end-with-good-ethics-than-bad/" } ], "@id": "https://sms4smile.com/quotes/charlie-munger/i-think-you-ll-make-more-money-in-the-end-with-good-ethics-than-bad/#breadcrumb" }, { "@type": "WebSite", "@id": "https://sms4smile.com/quotes/#website", "name": "SMS4Smile Quotes", "url": "https://sms4smile.com/quotes/", "publisher": { "@id": "https://sms4smile.com/quotes/#organization" } }, { "@type": "Organization", "@id": "https://sms4smile.com/quotes/#organization", "name": "SMS4Smile Quotes", "url": "https://sms4smile.com/quotes/", "logo": { "@type": "ImageObject", "url": "https://sms4smile.com/quotes/wp-content/themes/sq/assets/icons/icon-512.png", "width": 512, "height": 512 } } ] } ```