--- title: "Meaning & Key Takeaway of: If you, like me, lived through 1973-74 or…" description: "\"If you, like me, lived through 1973-74 or even the early 1990s... There was a waiting list to get OUT of the country club - that's when you know things..." image: "https://sms4smile.com/quotes/i/0a2/charlie-munger-458_clubs_if-you-like-me-lived-through-1973-74-or_594284.jpg" --- # If you, like me, lived through 1973-74 or even the early… ![“If you, like me, lived through 1973-74 or even the early 1990s... There was a waiting list to get OUT of the country club - that's when you know things are tough. If you live long enough, you'll see it.” quote by Charlie Munger](https://sms4smile.com/quotes/i/0a2/charlie-munger-458_clubs_if-you-like-me-lived-through-1973-74-or_594284.jpg) [Download](https://sms4smile.com/quotes/i/0a2/charlie-munger-458_clubs_if-you-like-me-lived-through-1973-74-or_594284.jpg) [Open image](https://sms4smile.com/quotes/i/0a2/charlie-munger-458_clubs_if-you-like-me-lived-through-1973-74-or_594284.jpg) > “If you, like me, lived through 1973-74 or even the early 1990s... There was a waiting list to get OUT of the country club - that's when you know things are tough. If you live long enough, you'll see it.” [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. Economic cycles create periods of scarcity that reveal underlying market stress. **In simple terms:** Hard times show up when demand exceeds supply. Key Takeaway Recognize and prepare for market downturns. Themes economics market cycles risk management Mood cautious analytical Type advisory observational When to use this quote - Investing - career planning - real estate - personal finance Key Concepts Supply-demand imbalance behavioral finance Questions to Reflect On - How do you identify value during market stress? - What signals indicate a systemic slowdown? A Different Perspective Even in downturns, opportunities exist for disciplined investors. ★ ★ ★ ★ ★ No ratings yet [Clubs](https://sms4smile.com/quotes/about/clubs/) [Country](https://sms4smile.com/quotes/about/country/) ## Related quotes > [I cannot bear to think that our young men are merely living four years in a country club and spending their lives wholly in…](https://sms4smile.com/quotes/john-grier-hibben/i-cannot-bear-to-think-that-our-young-men-are-merely-living-four/) [John Grier Hibben](https://sms4smile.com/quotes/author/john-grier-hibben/) > [I have just realized that it is due to you, and to Mr. James Thomas and his staff of the Army Navy Country Club…](https://sms4smile.com/quotes/dwight-d-eisenhower/i-have-just-realized-that-it-is-due-to-you-and-to-mr-james-thomas-and/) [Dwight D. Eisenhower](https://sms4smile.com/quotes/author/dwight-d-eisenhower/) > [I'm a member of a country club, country music is what I love.](https://sms4smile.com/quotes/travis-tritt/i-m-a-member-of-a-country-club-country-music-is-what-i-love/) [Travis Tritt](https://sms4smile.com/quotes/author/travis-tritt/) > [The conservative movement is like a country club based in Washington, D.C.](https://sms4smile.com/quotes/andrew-breitbart/the-conservative-movement-is-like-a-country-club-based-in-washington/) [Andrew Breitbart](https://sms4smile.com/quotes/author/andrew-breitbart/) > [I would never join a country club with standards so low as to allow me as a member.](https://sms4smile.com/quotes/groucho-marx/i-would-never-join-a-country-club-with-standards-so-low-as-to-allow/) [Groucho Marx](https://sms4smile.com/quotes/author/groucho-marx/) > [A tip: if you're invited to your friend's country club to go the lost and found bin and pretend that you left something there.…](https://sms4smile.com/quotes/lisa-birnbach/a-tip-if-you-re-invited-to-your-friend-s-country-club-to-go-the-lost/) [Lisa Birnbach](https://sms4smile.com/quotes/author/lisa-birnbach/) > [God is diverse and inclusive, not limited and exclusive. You're thinking of a Country Club.](https://sms4smile.com/quotes/brian-robertson/god-is-diverse-and-inclusive-not-limited-and-exclusive-you-re/) Brian Robertson > [If you don't like me, if you like me; both are equally cool. I send love and positive energy to all those people in…](https://sms4smile.com/quotes/willow-smith/if-you-don-t-like-me-if-you-like-me-both-are-equally-cool-i-send-love/) [Willow Smith](https://sms4smile.com/quotes/author/willow-smith/) > [I do what I do instinctively, and that’s me. If you like me, that’s fine; if you don’t like me then don’t watch me.](https://sms4smile.com/quotes/colin-fletcher/i-do-what-i-do-instinctively-and-that-s-me-if-you-like-me-that-s-fine/) [Colin Fletcher](https://sms4smile.com/quotes/author/colin-fletcher/) > [I was at a point where I was ready to say I am what I am because of what I am and if you…](https://sms4smile.com/quotes/anne-bancroft/i-was-at-a-point-where-i-was-ready-to-say-i-am-what-i-am-because-of/) [Anne Bancroft](https://sms4smile.com/quotes/author/anne-bancroft/) > [I don't care if you hate me or if you like me, as long as somebody gives me a character that is really a…](https://sms4smile.com/quotes/salma-hayek/i-don-t-care-if-you-hate-me-or-if-you-like-me-as-long-as-somebody/) [Salma Hayek](https://sms4smile.com/quotes/author/salma-hayek/) > [I don't want to be liked. I want to be respected. Because if you like me you can throw me away too quick. If…](https://sms4smile.com/quotes/ray-lewis/i-don-t-want-to-be-liked-i-want-to-be-respected-because-if-you-like/) [Ray Lewis](https://sms4smile.com/quotes/author/ray-lewis/) > [If you're a sexist, racist, homophobe, or basically an arsehole, don't buy this CD. I don't care if you like me, I hate you.](https://sms4smile.com/quotes/kurt-cobain/if-you-re-a-sexist-racist-homophobe-or-basically-an-arsehole-don-t/) [Kurt Cobain](https://sms4smile.com/quotes/author/kurt-cobain/) > [If you, Like me, Were made of fur, And sun warmed you, Like me, You'd purr.](https://sms4smile.com/quotes/karla-kuskin/if-you-like-me-were-made-of-fur-and-sun-warmed-you-like-me-you-d-purr/) Karla Kuskin > [If you like me, raise your hand. If you don't, raise your standards](https://sms4smile.com/quotes/shahrukh-khan/if-you-like-me-raise-your-hand-if-you-don-t-raise-your-standards/) [Shahrukh Khan](https://sms4smile.com/quotes/author/shahrukh-khan/) ## 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 Clubs quotes > [When you go to a club it's not about being black or white or heavy or thick. I'm shaking my ass because I want…](https://sms4smile.com/quotes/miley-cyrus/when-you-go-to-a-club-it-s-not-about-being-black-or-white-or-heavy-or/) [Miley Cyrus](https://sms4smile.com/quotes/author/miley-cyrus/) > [ I failed, I think, seven \[or\] eight times before I finally got my first \[championship\]. It was just, you know, just about me growing… ](https://sms4smile.com/quotes/shaquille-o-neal/i-failed-i-think-seven-or-eight-times-before-i-finally-got-my-first/) [Shaquille O'Neal](https://sms4smile.com/quotes/author/shaquille-o-neal/) > [So I went to a club the other day, which is timely because my self esteem had been hovering right around 'normal' and I…](https://sms4smile.com/quotes/mike-birbiglia/so-i-went-to-a-club-the-other-day-which-is-timely-because-my-self/) [Mike Birbiglia](https://sms4smile.com/quotes/author/mike-birbiglia/) > [There's nothing like the energy in a small comedy club room or a small theater when it's going really well. I can see everybody's…](https://sms4smile.com/quotes/drew-carey/there-s-nothing-like-the-energy-in-a-small-comedy-club-room-or-a/) [Drew Carey](https://sms4smile.com/quotes/author/drew-carey/) > [In my former life I was in insider, as much as anybody else. And I knew what it's like, and I still know what…](https://sms4smile.com/quotes/donald-trump/in-my-former-life-i-was-in-insider-as-much-as-anybody-else-and-i-knew/) [Donald Trump](https://sms4smile.com/quotes/author/donald-trump/) > [Every wife ought to answer for her man. If the husband be engaged in a seditious club, or drinks mysterious healths, or be frugal…](https://sms4smile.com/quotes/joseph-addison/every-wife-ought-to-answer-for-her-man-if-the-husband-be-engaged-in-a/) [Joseph Addison](https://sms4smile.com/quotes/author/joseph-addison/) > [ \[Could you show us how Lana Del Rey dances in a club?\] That would be illegal. ](https://sms4smile.com/quotes/lana-del-rey/could-you-show-us-how-lana-del-rey-dances-in-a-club-that-would-be/) [Lana Del Rey](https://sms4smile.com/quotes/author/lana-del-rey/) > [The good Bishop of Assisi expressed a sort of horror at the hard life which the Little Brothers lived at the Portiuncula, without comforts,…](https://sms4smile.com/quotes/anonymous/the-good-bishop-of-assisi-expressed-a-sort-of-horror-at-the-hard-life/) [Anonymous](https://sms4smile.com/quotes/author/anonymous/) > [The first time I went to Abbey Road and put those headphones on, I discovered I had two voices. I no longer had to…](https://sms4smile.com/quotes/cilla-black/the-first-time-i-went-to-abbey-road-and-put-those-headphones-on-i/) [Cilla Black](https://sms4smile.com/quotes/author/cilla-black/) > [I just started writing for my own amusement and occasionally singing in little clubs around Los Angeles. Then I wrote 'The Rose,' and through…](https://sms4smile.com/quotes/amanda-mcbroom/i-just-started-writing-for-my-own-amusement-and-occasionally-singing/) [Amanda McBroom](https://sms4smile.com/quotes/author/amanda-mcbroom/) > [The clubs, that's easy to cut out, because I know when the season ends I can look forward to going out.](https://sms4smile.com/quotes/usain-bolt/the-clubs-that-s-easy-to-cut-out-because-i-know-when-the-season-ends/) [Usain Bolt](https://sms4smile.com/quotes/author/usain-bolt/) > [Raves when it was safe to be free & wave your hands in the air, like you didn't even care! Not scared to break…](https://sms4smile.com/quotes/progrezza/raves-when-it-was-safe-to-be-free-wave-your-hands-in-the-air-like-you/) [Progrezza](https://sms4smile.com/quotes/author/progrezza/) > [Well, the coffeehouse audiences never know what they're going to get, and all the comics are different, as opposed to when you go to…](https://sms4smile.com/quotes/kathy-griffin/well-the-coffeehouse-audiences-never-know-what-they-re-going-to-get/) [Kathy Griffin](https://sms4smile.com/quotes/author/kathy-griffin/) > [I assume my stance, and take back the club, low, slowly; at the top, my eyes fog over, and my joints dip and swirl…](https://sms4smile.com/quotes/john-updike/i-assume-my-stance-and-take-back-the-club-low-slowly-at-the-top-my/) [John Updike](https://sms4smile.com/quotes/author/john-updike/) > [A new club is like having a new girlfriend – you don't have feelings straight away](https://sms4smile.com/quotes/michael-owen/a-new-club-is-like-having-a-new-girlfriend-you-don-t-have-feelings/) [Michael Owen](https://sms4smile.com/quotes/author/michael-owen/) [Browse all 2,237 Clubs quotes ](https://sms4smile.com/quotes/about/clubs/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "If you, like me, lived through 1973-74 or even the early 1990s... 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