Charlie Munger Quotes

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Charlie Munger

Profession : Businessman

Birth : January 1, 1924

A banker who is allowed to borrow money at X and loan it out at X plus Y will just go crazy and do too much of it if the civilization doesn't have rules that prevent it.

Charlie Munger

If all you needed to do is to figure out what company is better than others, everyone would make a lot of money. But that is not the case. They keep raising the prices to the point when the odds change.

Charlie Munger

Who would want one's children growing up buying things like bitcoin? I hope to God my family doesn't buy it. It's noxious poison.

Charlie Munger

Gold is a great thing to sew into your garments if you're a Jewish family in Vienna in 1939, but I think civilized people don't buy gold, they invest in productive businesses.

Charlie Munger

Look at this generation, with all of its electronic devices and multitasking. I will confidently predict less success than Warren, who just focused on reading.

Charlie Munger

When someone takes their existing business and tries to transform it into something else - they fail. In technology that is often the case. Look at Kodak: it was the dominant imaging company in the world. They did fabulously during the great depression, but then wiped out the shareholders because of technological change.

Charlie Munger

It's remarkable how much long-term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very intelligent.

Charlie Munger

A great business at a fair price is superior to a fair business at a great price.

Charlie Munger

I believe Costco does more for civilization than the Rockefeller Foundation. I think it's a better place. You get a bunch of very intelligent people sitting around trying to do good, I immediately get kind of suspicious and squirm in my seat.

Charlie Munger

It's a real pleasure to earn the trust of your customers slowly over time by doing what's right.

Charlie Munger

The first rule is that you can't really know anything if you just remember isolated facts and try and bang 'em back. If the facts don't hang together on a latticework of theory, you don't have them in a usable form.

Charlie Munger

I think people who multitask pay a huge price. They think they're being extra productive, and I think when you multitask so much you don't have time to think about anything deeply, you are giving the world an advantage you shouldn't do, and practically everybody is drifting into that mistake.

Charlie Munger

I regard the bitcoin craze as totally asinine to create some manufactured currency.

Charlie Munger

People are trying to be smart - all I am trying to do is not to be idiotic, but it's harder than most people think.

Charlie Munger

Economics profession, they've been - they've been confident in various formulas, but economics is not physics. The same formula that works in one decade doesn't work in the next. Economics is a difficult subject.

Charlie Munger

Most people don't grab the right ideas or don't know what to do with them.

Charlie Munger

I'm proud to be associated with the value system at Berkshire Hathaway; I think you'll make more money in the end with good ethics than bad.

Charlie Munger

If you can get really good at destroying your own wrong ideas, that is a great gift.

Charlie Munger

I'm used to people with very high IQs knowing how to recognize reality, but there's a huge human tendency where it may be instructive to think that whatever you're doing to succeed is all right.

Charlie Munger

I've got some advice for the young: If you've got anything you really want to do, don't wait until you're 93.

Charlie Munger