--- title: "Meaning & Key Takeaway of: When we were young, there weren't very…" description: "\"When we were young, there weren't very many smart people in the investment world. You should have seen the people in the bank trust departments. Now, ..." image: "https://sms4smile.com/quotes/i/1f3/charlie-munger-458_advantage_when-we-were-young-there-weren-t-very-ma_2170298.jpg" --- # When we were young, there weren't very many smart people… ![“When we were young, there weren't very many smart people in the investment world. You should have seen the people in the bank trust departments. Now, there are armies of smart people at private investment funds, etc . If there were a crisis now, there would be a lot more people with a lot of money…” quote by Charlie Munger](https://sms4smile.com/quotes/i/1f3/charlie-munger-458_advantage_when-we-were-young-there-weren-t-very-ma_2170298.jpg) [Download](https://sms4smile.com/quotes/i/1f3/charlie-munger-458_advantage_when-we-were-young-there-weren-t-very-ma_2170298.jpg) [Open image](https://sms4smile.com/quotes/i/1f3/charlie-munger-458_advantage_when-we-were-young-there-weren-t-very-ma_2170298.jpg) > “When we were young, there weren't very many smart people in the investment world. You should have seen the people in the bank trust departments. Now, there are armies of smart people at private investment funds, etc . If there were a crisis now, there would be a lot more people with a lot of money ready to take advantage.” [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. Early investment fields lacked expertise; now many skilled professionals can exploit crises, increasing competition and risk. **In simple terms:** More smart investors now. Key Takeaway Prepare for heightened competition. Themes finance expertise competition risk market dynamics Mood cautious thoughtful Type ethical strategic When to use this quote - investment strategy - risk management - career planning Key Concepts human capital information asymmetry crisis opportunism Questions to Reflect On - How can investors act responsibly during crises? - What safeguards reduce exploitative behavior? A Different Perspective The quote assumes crises always attract opportunists, ignoring ethical considerations. ★ ★ ★ ★ ★ No ratings yet [Advantage](https://sms4smile.com/quotes/about/advantage/) [Army](https://sms4smile.com/quotes/about/army/) [Crisis](https://sms4smile.com/quotes/about/crisis/) [Customer](https://sms4smile.com/quotes/about/customer/) [Department](https://sms4smile.com/quotes/about/department/) [Etc](https://sms4smile.com/quotes/about/etc/) [Fund](https://sms4smile.com/quotes/about/fund/) [Funds Crisis](https://sms4smile.com/quotes/about/funds-crisis-4643988/) [Ifs](https://sms4smile.com/quotes/about/ifs/) [Investing](https://sms4smile.com/quotes/about/investing/) [Investment](https://sms4smile.com/quotes/about/investment/) [Investment Funds](https://sms4smile.com/quotes/about/investment-funds-3022872/) [Lots of money](https://sms4smile.com/quotes/about/lots-of-money/) [Money](https://sms4smile.com/quotes/about/money/) [People](https://sms4smile.com/quotes/about/people/) [People Investment](https://sms4smile.com/quotes/about/people-investment-3626314/) [Private Investment](https://sms4smile.com/quotes/about/private-investment-500000/) [Ready](https://sms4smile.com/quotes/about/ready/) [Should](https://sms4smile.com/quotes/about/should/) [Should have](https://sms4smile.com/quotes/about/should-have/) [Smart](https://sms4smile.com/quotes/about/smart/) [Smart people](https://sms4smile.com/quotes/about/smart-people/) [Trust](https://sms4smile.com/quotes/about/trust/) [World](https://sms4smile.com/quotes/about/world/) [Would be](https://sms4smile.com/quotes/about/would-be/) [Young](https://sms4smile.com/quotes/about/young/) ## Related quotes > [China has created very good investment tools, including an entire network of very large funds. 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