--- title: "Meaning & Key Takeaway of: It would be one of the most irritating…" description: "\"It would be one of the most irritating experiences in the world to do a lot of work to uncover a fraud and then at have it go from X to 3X and at h the..." image: "https://sms4smile.com/quotes/i/dad/charlie-munger-458_crooks_it-would-be-one-of-the-most-irritating-e_1493184.jpg" --- # It would be one of the most irritating experiences in the… ![“It would be one of the most irritating experiences in the world to do a lot of work to uncover a fraud and then at have it go from X to 3X and at h the crooks happily partying with your money while you're meeting margin calls. Why would you want to go within hailing distance of that?” quote by Charlie Munger](https://sms4smile.com/quotes/i/dad/charlie-munger-458_crooks_it-would-be-one-of-the-most-irritating-e_1493184.jpg) [Download](https://sms4smile.com/quotes/i/dad/charlie-munger-458_crooks_it-would-be-one-of-the-most-irritating-e_1493184.jpg) [Open image](https://sms4smile.com/quotes/i/dad/charlie-munger-458_crooks_it-would-be-one-of-the-most-irritating-e_1493184.jpg) > “It would be one of the most irritating experiences in the world to do a lot of work to uncover a fraud and then at have it go from X to 3X and at h the crooks happily partying with your money while you're meeting margin calls. Why would you want to go within hailing distance of that?” [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. Exposing fraud can be rewarding, but the gains often get siphoned off, leaving investors with losses and frustration. **In simple terms:** Fraud detection can backfire when thieves profit more than investigators. Key Takeaway Beware of being outmaneuvered by fraudsters. Themes fraud investigation risk finance ethics Mood cautious critical skeptical Type advisory warning analytical When to use this quote - investment analysis - auditing - regulatory compliance - risk management - legal proceedings Key Concepts principal-agent problem moral hazard information asymmetry Questions to Reflect On - How can systems be designed to prevent fraudsters from profiting after detection? - What safeguards protect investors from margin calls caused by fraud? A Different Perspective Even with diligent work, systemic loopholes can let fraudsters profit. ★ ★ ★ ★ ★ No ratings yet [Crooks](https://sms4smile.com/quotes/about/crooks/) [Customer](https://sms4smile.com/quotes/about/customer/) [Fraud](https://sms4smile.com/quotes/about/fraud/) [Meetings](https://sms4smile.com/quotes/about/meetings/) [Party](https://sms4smile.com/quotes/about/party/) [World](https://sms4smile.com/quotes/about/world/) ## Related quotes > [In an extreme credit crunch, leveraged purchases of gold cause forced sales, because any price correction triggers margin calls. 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And that's all I want to use it for.](https://sms4smile.com/quotes/gregg-wallace/you-can-t-get-a-phone-any-more-that-just-makes-phone-calls-and-that-s/) [Gregg Wallace](https://sms4smile.com/quotes/author/gregg-wallace/) > [You may not have any interest in Clemson whatsoever, but if Clemson calls, and they want to pay for you to come, and feed…](https://sms4smile.com/quotes/dabo-swinney/you-may-not-have-any-interest-in-clemson-whatsoever-but-if-clemson/) [Dabo Swinney](https://sms4smile.com/quotes/author/dabo-swinney/) > [I'm just Jeffree. Everyone calls me he/she/whatever they want to call me; I'm an alien.](https://sms4smile.com/quotes/jeffree-star/i-m-just-jeffree-everyone-calls-me-he-she-whatever-they-want-to-call/) [Jeffree Star](https://sms4smile.com/quotes/author/jeffree-star/) > [People tell me the Netflix series, House of Cards, is sort of like my class come to life. The movie Margin Call portrays the…](https://sms4smile.com/quotes/jeffrey-pfeffer/people-tell-me-the-netflix-series-house-of-cards-is-sort-of-like-my/) [Jeffrey Pfeffer](https://sms4smile.com/quotes/author/jeffrey-pfeffer/) > [I wrote 'All is Lost' while editing 'Margin Call'. I did that long before I knew if I was ever going to get to…](https://sms4smile.com/quotes/j-c-chandor/i-wrote-all-is-lost-while-editing-margin-call-i-did-that-long-before/) [J. C. Chandor](https://sms4smile.com/quotes/author/j-c-chandor/) > [As a writer, I had learned a lot on 'Margin Call' about embracing the weaknesses of a narrative and of a project. A story…](https://sms4smile.com/quotes/j-c-chandor/as-a-writer-i-had-learned-a-lot-on-margin-call-about-embracing-the/) [J. C. Chandor](https://sms4smile.com/quotes/author/j-c-chandor/) > [“The Liquid Pantomime by Stewart Stafford Time is life’s shareholder: Youth’s dark angel investor, Midlife’s white shark creditor, The old's Arctic blood liquidator. Debt,…](https://sms4smile.com/quotes/stewart-stafford/the-liquid-pantomime-by-stewart-stafford-time-is-life-s-shareholder/) [Stewart Stafford](https://sms4smile.com/quotes/author/stewart-stafford/) > [You normally don't get a margin call unless your securities, minus the debt, are worth 30% or less of their nominal market value.](https://sms4smile.com/quotes/jane-bryant-quinn/you-normally-don-t-get-a-margin-call-unless-your-securities-minus-the/) [Jane Bryant Quinn](https://sms4smile.com/quotes/author/jane-bryant-quinn/) > [In Egypt the staff was rendered as a shepherd's crook that was a symbol for the pharaohs, the Druids of Egypt. The pharaohs wore…](https://sms4smile.com/quotes/michael-tsarion/in-egypt-the-staff-was-rendered-as-a-shepherd-s-crook-that-was-a/) [Michael Tsarion](https://sms4smile.com/quotes/author/michael-tsarion/) > [An honest man is all right even if he's an idiot...but a crook must have brains.](https://sms4smile.com/quotes/maxim-gorky/an-honest-man-is-all-right-even-if-he-s-an-idiot-but-a-crook-must/) [Maxim Gorky](https://sms4smile.com/quotes/author/maxim-gorky/) > [It's always amusing to see how much less the political class knows than the rest of us do. ... it's never occurred to \[the…](https://sms4smile.com/quotes/stephen-d-cox/it-s-always-amusing-to-see-how-much-less-the-political-class-knows/) Stephen D. Cox > [“pissed at Phillip, but he doesn’t seem to care. He grins, then crooks”](https://sms4smile.com/quotes/jillian-dodd/pissed-at-phillip-but-he-doesn-t-seem-to-care-he-grins-then-crooks/) [Jillian Dodd](https://sms4smile.com/quotes/author/jillian-dodd/) > [By hook or by crook, we're going to make sure that when I leave this office, that the country is more prosperous, more people…](https://sms4smile.com/quotes/barack-obama/by-hook-or-by-crook-we-re-going-to-make-sure-that-when-i-leave-this/) [Barack Obama](https://sms4smile.com/quotes/author/barack-obama/) ## 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 Crooks quotes > [By hook or by crook, we're going to make sure that when I leave this office, that the country is more prosperous, more people…](https://sms4smile.com/quotes/barack-obama/by-hook-or-by-crook-we-re-going-to-make-sure-that-when-i-leave-this/) [Barack Obama](https://sms4smile.com/quotes/author/barack-obama/) > [An honest man is all right even if he's an idiot...but a crook must have brains.](https://sms4smile.com/quotes/maxim-gorky/an-honest-man-is-all-right-even-if-he-s-an-idiot-but-a-crook-must/) [Maxim Gorky](https://sms4smile.com/quotes/author/maxim-gorky/) > [It's always amusing to see how much less the political class knows than the rest of us do. ... it's never occurred to \[the…](https://sms4smile.com/quotes/stephen-d-cox/it-s-always-amusing-to-see-how-much-less-the-political-class-knows/) Stephen D. Cox > [“pissed at Phillip, but he doesn’t seem to care. He grins, then crooks”](https://sms4smile.com/quotes/jillian-dodd/pissed-at-phillip-but-he-doesn-t-seem-to-care-he-grins-then-crooks/) [Jillian Dodd](https://sms4smile.com/quotes/author/jillian-dodd/) > [In Egypt the staff was rendered as a shepherd's crook that was a symbol for the pharaohs, the Druids of Egypt. The pharaohs wore…](https://sms4smile.com/quotes/michael-tsarion/in-egypt-the-staff-was-rendered-as-a-shepherd-s-crook-that-was-a/) [Michael Tsarion](https://sms4smile.com/quotes/author/michael-tsarion/) > [I made my mistakes, but in all of my years in public life, I have never profited, never profited from public serviceI have earned…](https://sms4smile.com/quotes/richard-m-nixon/i-made-my-mistakes-but-in-all-of-my-years-in-public-life-i-have-never/) [Richard M. Nixon](https://sms4smile.com/quotes/author/richard-m-nixon/) > [She bent her finger and then straightened it. The mystery was in the instant before it moved, the dividing moment between not moving and…](https://sms4smile.com/quotes/ian-mcewan/she-bent-her-finger-and-then-straightened-it-the-mystery-was-in-the/) [Ian Mcewan](https://sms4smile.com/quotes/author/ian-mcewan/) > [I don't break the law\* made for crooks, when I take away my own property - thus I am not obliged to conform to…](https://sms4smile.com/quotes/michel-de-montaigne/i-don-t-break-the-law-made-for-crooks-when-i-take-away-my-own/) [Michel de Montaigne](https://sms4smile.com/quotes/author/michel-de-montaigne/) > [We, as black people, we have a lot of crooks.](https://sms4smile.com/quotes/charles-barkley/we-as-black-people-we-have-a-lot-of-crooks/) [Charles Barkley](https://sms4smile.com/quotes/author/charles-barkley/) > [In the first place, most princes apply themselves to the arts of war, in which I have neither ability nor interest, instead of to…](https://sms4smile.com/quotes/thomas-more/in-the-first-place-most-princes-apply-themselves-to-the-arts-of-war/) [Thomas More](https://sms4smile.com/quotes/author/thomas-more/) > [Me? Well, I don't know, I must go to a dictionary and learn what a crook is. I've never been a crook.](https://sms4smile.com/quotes/jacob-zuma/me-well-i-don-t-know-i-must-go-to-a-dictionary-and-learn-what-a-crook/) [Jacob Zuma](https://sms4smile.com/quotes/author/jacob-zuma/) > [I'm straightforward with my kids, I take my kids out and I bring my daughter to dance lessons. I'm teaching my son how to…](https://sms4smile.com/quotes/rob-ford/i-m-straightforward-with-my-kids-i-take-my-kids-out-and-i-bring-my/) [Rob Ford](https://sms4smile.com/quotes/author/rob-ford/) > [We're victims, and we're portrayed as crooks.](https://sms4smile.com/quotes/rob-pilatus/we-re-victims-and-we-re-portrayed-as-crooks/) [Rob Pilatus](https://sms4smile.com/quotes/author/rob-pilatus/) > [The Lady Amalthea beckoned, and the cat wriggled all over, like a dog, but he would not come near... She was offering her open…](https://sms4smile.com/quotes/peter-s-beagle/the-lady-amalthea-beckoned-and-the-cat-wriggled-all-over-like-a-dog/) [Peter S. Beagle](https://sms4smile.com/quotes/author/peter-s-beagle/) > [I happen to think that Jesus was the greatest hero of all time. I don't think you could invent that kind of a hero.…](https://sms4smile.com/quotes/frank-capra/i-happen-to-think-that-jesus-was-the-greatest-hero-of-all-time-i-don/) [Frank Capra](https://sms4smile.com/quotes/author/frank-capra/) [Browse all 151 Crooks quotes ](https://sms4smile.com/quotes/about/crooks/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "It would be one of the most irritating experiences in the world to do a lot of work to uncover a fraud and then at have it go from X to 3X and at h the crooks happily partying with your money while you're meeting margin calls. 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