Title Image - Quotes by Author Charlie Munger
quote by Charlie Munger: A great business at a fair price is superior to a fair business at a great price. with background image: photo of author Charlie Munger with quote

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

--Charlie Munger
quote by Charlie Munger: If you can get really good at destroying your own wrong ideas, that is a great gift. with background image: photo of author Charlie Munger with quote

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

--Charlie Munger
quote by Charlie Munger: If all you succeed in doing in life is getting rich by buying little pieces of paper, it's a failed life. Life is more than being shrewd in wealth accumulation. with background image: photo of author Charlie Munger with quote

If all you succeed in doing in life is getting rich by buying little pieces of paper, it's a failed life. Life is more than being shrewd in wealth accumulation.

--Charlie Munger


quote by Charlie Munger: We try more to profit from always remembering the obvious than from grasping the esoteric. with background image: photo of author Charlie Munger with quote

We try more to profit from always remembering the obvious than from grasping the esoteric.

--Charlie Munger
quote by Charlie Munger: So, economics should emulate physics' basic ethos, but its search for precision in physics-like formulas is almost always wrong in economics. with background image: photo of author Charlie Munger with quote

So, economics should emulate physics' basic ethos, but its search for precision in physics-like formulas is almost always wrong in economics.

--Charlie Munger


quote by Charlie Munger: In the LBO field there is a buried covariance with marketable equities, toward disaster in generally bad business conditions, and competition is now extremely intense. with background image: photo of author Charlie Munger with quote

In the LBO field there is a buried covariance with marketable equities, toward disaster in generally bad business conditions, and competition is now extremely intense.

--Charlie Munger


quote by Charlie Munger: A board member should be perfectly willing to leave at any time and willing to make the tough calls. with background image: photo of author Charlie Munger with quote

A board member should be perfectly willing to leave at any time and willing to make the tough calls.

--Charlie Munger


quote by Charlie Munger: I think that, every time you saw the word EBITDA, you should substitute the word bullshit earnings. with background image: photo of author Charlie Munger with quote

I think that, every time you saw the word EBITDA, you should substitute the word bullshit earnings.

--Charlie Munger

quote by Charlie Munger: The big money is not in the buying and selling ... but in the waiting. with background image: photo of author Charlie Munger with quote

The big money is not in the buying and selling ... but in the waiting.

--Charlie Munger



quote by Charlie Munger: No wise pilot, no matter how great his talent and experience, fails to use his checklist. with background image: photo of author Charlie Munger with quote

No wise pilot, no matter how great his talent and experience, fails to use his checklist.

--Charlie Munger
quote by Charlie Munger: Don't do cocaine. Don't race trains. And avoid AIDS situations. with background image: photo of author Charlie Munger with quote

Don't do cocaine. Don't race trains. And avoid AIDS situations.

--Charlie Munger
quote by Charlie Munger: Just avoid things like racing trains to the crossing, doing cocaine, etc. Develop good mental habits. with background image: photo of author Charlie Munger with quote

Just avoid things like racing trains to the crossing, doing cocaine, etc. Develop good mental habits.

--Charlie Munger
quote by 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 special area of competency and focus on that. with background image: photo of author Charlie Munger with quote

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 special area of competency and focus on that.

--Charlie Munger
quote by Charlie Munger: It's not a competency if you don't know the edge of it. with background image: photo of author Charlie Munger with quote

It's not a competency if you don't know the edge of it.

--Charlie Munger

quote by Charlie Munger: A rough rule in life is that an organization foolish in one way in dealing with a complex system is all too likely to be foolish in another. with background image: photo of author Charlie Munger with quote

A rough rule in life is that an organization foolish in one way in dealing with a complex system is all too likely to be foolish in another.

--Charlie Munger



quote by Charlie Munger: In my life there are not that many questions I can't properly deal with using my $40 adding machine and dog-eared compound interest table. with background image: photo of author Charlie Munger with quote

In my life there are not that many questions I can't properly deal with using my $40 adding machine and dog-eared compound interest table.

--Charlie Munger
quote by Charlie Munger: Understanding both the power of compound interest and the difficulty of getting it is the heart and soul of understanding a lot of things. with background image: photo of author Charlie Munger with quote

Understanding both the power of compound interest and the difficulty of getting it is the heart and soul of understanding a lot of things.

--Charlie Munger


quote by Charlie Munger: Great investing requires a lot of delayed gratification. with background image: photo of author Charlie Munger with quote

Great investing requires a lot of delayed gratification.

--Charlie Munger
quote by Charlie Munger: Accounting incomes were reduced by discrepancy but the net amount paid by lawyers for lawyerly discrepancy is close to zippo. In this case, the goddess of justice was blind. with background image: photo of author Charlie Munger with quote

Accounting incomes were reduced by discrepancy but the net amount paid by lawyers for lawyerly discrepancy is close to zippo. In this case, the goddess of justice was blind.

--Charlie Munger
quote by Charlie Munger: In engineering, people have a big margin of safety. But in the financial world, people don't give a damn about safety. They let it balloon and balloon and balloon. It's aided by false accounting. with background image: photo of author Charlie Munger with quote

In engineering, people have a big margin of safety. But in the financial world, people don't give a damn about safety. They let it balloon and balloon and balloon. It's aided by false accounting.

--Charlie Munger
quote by Charlie Munger: Strategic plans cause more dumb decisions than anything else in America. with background image: photo of author Charlie Munger with quote

Strategic plans cause more dumb decisions than anything else in America.

--Charlie Munger
quote by Charlie Munger: Being an effective teacher is a high calling. with background image: photo of author Charlie Munger with quote

Being an effective teacher is a high calling.

--Charlie Munger

quote by Charlie Munger: We only want what success we can get despite encouraging others to share our general view about reality. with background image: photo of author Charlie Munger with quote

We only want what success we can get despite encouraging others to share our general view about reality.

--Charlie Munger


quote by Charlie Munger: A lot of our respected financial institutions are just casinos in drag. with background image: photo of author Charlie Munger with quote

A lot of our respected financial institutions are just casinos in drag.

--Charlie Munger
quote by Charlie Munger: Financial institutions make us nervous when they're trying to do well. with background image: photo of author Charlie Munger with quote

Financial institutions make us nervous when they're trying to do well.

--Charlie Munger


quote by Charlie Munger: The ethos of not fooling yourself is one of the best you could possibly have. It's powerful because it's so rare. with background image: photo of author Charlie Munger with quote

The ethos of not fooling yourself is one of the best you could possibly have. It's powerful because it's so rare.

--Charlie Munger
quote by Charlie Munger: Good businesses can survive a little bad management. with background image: photo of author Charlie Munger with quote

Good businesses can survive a little bad management.

--Charlie Munger
quote by Charlie Munger: Almost all good businesses engage in 'pain today, gain tomorrow' activities. with background image: photo of author Charlie Munger with quote

Almost all good businesses engage in 'pain today, gain tomorrow' activities.

--Charlie Munger
quote by Charlie Munger: Once you get into debt, it's hell to get out. Don't let credit card debt carry over. You can't get ahead paying eighteen percent. with background image: photo of author Charlie Munger with quote

Once you get into debt, it's hell to get out. Don't let credit card debt carry over. You can't get ahead paying eighteen percent.

--Charlie Munger
quote by Charlie Munger: Step by step you get ahead, but rarely in fast spurts. with background image: photo of author Charlie Munger with quote

Step by step you get ahead, but rarely in fast spurts.

--Charlie Munger
quote by Charlie Munger: Mankind invented a system to cope with the fact that we are so intrinsically lousy at manipulating numbers. It's called the graph. with background image: photo of author Charlie Munger with quote

Mankind invented a system to cope with the fact that we are so intrinsically lousy at manipulating numbers. It's called the graph.

--Charlie Munger

quote by Charlie Munger: Investing is where you find a few great companies and then sit on your ass. with background image: photo of author Charlie Munger with quote

Investing is where you find a few great companies and then sit on your ass.

--Charlie Munger

quote by Charlie Munger: To the man with only a hammer, every problem looks like a nail. with background image: photo of author Charlie Munger with quote

To the man with only a hammer, every problem looks like a nail.

--Charlie Munger
quote by Charlie Munger: Darwin paid particular attention to disconfirming evidence. Objectivity maintenance routines are totally required in life if you're going to be a great thinker. with background image: photo of author Charlie Munger with quote

Darwin paid particular attention to disconfirming evidence. Objectivity maintenance routines are totally required in life if you're going to be a great thinker.

--Charlie Munger



quote by Charlie Munger: It's a finite and very competitive world. All large aggregations of capital eventually find it hell on earth to grow and thus find a lower rate of return. with background image: photo of author Charlie Munger with quote

It's a finite and very competitive world. All large aggregations of capital eventually find it hell on earth to grow and thus find a lower rate of return.

--Charlie Munger

quote by Charlie Munger: In the corporate world, if you have analysts, due diligence, and no horse sense, you've just described hell. with background image: photo of author Charlie Munger with quote

In the corporate world, if you have analysts, due diligence, and no horse sense, you've just described hell.

--Charlie Munger
quote by Charlie Munger: The definition of hell in the legal system is: endless due process and no justice; (in the corporate world) it would be: endless due diligence and no horse sense. with background image: photo of author Charlie Munger with quote

The definition of hell in the legal system is: endless due process and no justice; (in the corporate world) it would be: endless due diligence and no horse sense.

--Charlie Munger
quote by Charlie Munger: One could imagine a period like Japan13 years ago, however, in which indexing over time wouldn't work. with background image: photo of author Charlie Munger with quote

One could imagine a period like Japan13 years ago, however, in which indexing over time wouldn't work.

--Charlie Munger




quote by Charlie Munger: Invert, always invert. with background image: photo of author Charlie Munger with quote

Invert, always invert.

--Charlie Munger
quote by Charlie Munger: Those who keep learning, will keep rising in life. with background image: photo of author Charlie Munger with quote

Those who keep learning, will keep rising in life.

--Charlie Munger
quote by Charlie Munger: If you don't keep learning, other people will pass you by. Temperament alone won't do it -- you need a lot of curiosity for a long, long time. with background image: photo of author Charlie Munger with quote

If you don't keep learning, other people will pass you by. Temperament alone won't do it -- you need a lot of curiosity for a long, long time.

--Charlie Munger
quote by Charlie Munger: The name of the game is continuing to learn. Even if you're very well trained and have some natural aptitude, you still need to keep learning. with background image: photo of author Charlie Munger with quote

The name of the game is continuing to learn. Even if you're very well trained and have some natural aptitude, you still need to keep learning.

--Charlie Munger




quote by Charlie Munger: A lot of success in life and business comes from knowing what you want to avoid: early death, a bad marriage, etc. with background image: photo of author Charlie Munger with quote

A lot of success in life and business comes from knowing what you want to avoid: early death, a bad marriage, etc.

--Charlie Munger




quote by Charlie Munger: If we've been a little more successful than other people, is because we always realised that the school of life was always open, and if you were not learning more you are falling behind. with background image: photo of author Charlie Munger with quote

If we've been a little more successful than other people, is because we always realised that the school of life was always open, and if you were not learning more you are falling behind.

--Charlie Munger

quote by Charlie Munger: Let me know what your problem is, and I will try to make it more difficult for you. with background image: photo of author Charlie Munger with quote

Let me know what your problem is, and I will try to make it more difficult for you.

--Charlie Munger

quote by Charlie Munger: Just keep your head down and do your best. with background image: photo of author Charlie Munger with quote

Just keep your head down and do your best.

--Charlie Munger
quote by Charlie Munger: Missing out on some opportunity never bothers us. What's wrong with someone getting a little richer than you? It's crazy to worry about this. with background image: photo of author Charlie Munger with quote

Missing out on some opportunity never bothers us. What's wrong with someone getting a little richer than you? It's crazy to worry about this.

--Charlie Munger

quote by Charlie Munger: In fact I've probably never seen such a wide moat. with background image: photo of author Charlie Munger with quote

In fact I've probably never seen such a wide moat.

--Charlie Munger
quote by Charlie Munger: How do you compete against a true fanatic? You can only try to build the best possible moat and continuously attempt to widen it. with background image: photo of author Charlie Munger with quote

How do you compete against a true fanatic? You can only try to build the best possible moat and continuously attempt to widen it.

--Charlie Munger

quote by Charlie Munger: If you skillfully follow the multidisciplinary path, you will never wish to come back. It would be like cutting off your hands. with background image: photo of author Charlie Munger with quote

If you skillfully follow the multidisciplinary path, you will never wish to come back. It would be like cutting off your hands.

--Charlie Munger


quote by Charlie Munger: The general systems of money management today require people to pretend to do something they can't do and like something they don't. It's a terrible way to spend your life, but it's very well paid. with background image: photo of author Charlie Munger with quote

The general systems of money management today require people to pretend to do something they can't do and like something they don't. It's a terrible way to spend your life, but it's very well paid.

--Charlie Munger

quote by Charlie Munger: I like people admitting they were complete stupid horses' asses. I know I'll perform better if I rub my nose in my mistakes. This is a wonderful trick to learn. with background image: photo of author Charlie Munger with quote

I like people admitting they were complete stupid horses' asses. I know I'll perform better if I rub my nose in my mistakes. This is a wonderful trick to learn.

--Charlie Munger

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