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You're not going to get very far in life based on what you already know. You're going to advance in life by what you're going to learn after you leave here.

Charlie Munger

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Charlie Munger
Age: 100
Born: 1924
Born: January 1
Business Person
Financier
Investor
Lawyer
Omaha
Nebraska
Charlie Thomas Munger
Charles T. Munger
Charles Thomas Munger
Life
Graduation
Advance
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More quotes by Charlie Munger

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We tend to buy things - a lot of things - where we don't know exactly what will happen, but the outcome will be decent.
Charlie Munger
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Whenever you think something or some person is ruining your life, it's you. A victimization mentality is so debilitating.
Charlie Munger
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People calculate too much and think too little.
Charlie Munger
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You don't want to be like the motion picture exec who had so many people at his funeral, but they were there just make sure he was dead. Or how about the guy who, at his funeral, the priest said, Won't anyone stand up and say anything nice for the deceased? and finally someone said, Well, his brother was worse.
Charlie Munger
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It's hard to predict what will happen with two brands in a market. Sometimes they will behave in a gentlemanly way, and sometimes they'll pound each other. I know of no way to predict whether they'll compete moderately or to the death. If you could figure it out, you could make a lot of money.
Charlie Munger
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You'll find many markets where bottlers of Pepsi and Coke both make a lot of money and many others where they destroy most of the profitability of the two franchises. That must get down to the peculiarities of individual adjustment to market capitalism. I think you 'd have to know the people involved to fully understand what was happening.
Charlie Munger
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Hard work, honesty, if you keep at it, will get you almost anything.
Charlie Munger
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You have to realize the truth of biologist Julian Huxley's idea that 'Life is just one damn relatedness after another' So you must have the models, and you must see the relatedness and the effects from the relatedness.
Charlie Munger
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All intelligent investing is value investing - acquiring more that you are paying for. You must value the business in order to value the stock.
Charlie Munger
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Litigation is notoriously time-consuming, inefficient, costly and unpredictable.
Charlie Munger
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It took us months of buying all the Coke stock we could to accumulate $1 billion worth - equal to 7% of the company. It's very hard to accumulate major positions.
Charlie Munger
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Early Charlie Munger is a horrible career model for the young, because not enough was delivered to civilization in return for what was wrested from capitalism. And other similar career models are even worse.
Charlie Munger
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It's been my experience in life if you just keep thinking and reading, you don't have to work.
Charlie Munger
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I have a black belt in chutzpah. I was born with it. Some people, like some of the women I know, have a black belt in spending. They were born with that. But what they gave me was a black belt in chutzpah.
Charlie Munger
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We have a higher percentage of the intelligentsia engaged in buying and selling pieces of paper and promoting trading activity than in any past era. A lot of what I see now reminds me of Sodomand Gomorrah. You get activity feeding on itself, envy and imitation. It has happened in the past that there came bad consequences.
Charlie Munger
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You must have the confidence to override people with more credentials than you whose cognition is impaired by incentive-caused bias or some similar psychological force that is obviously present. But there are also cases where you have to recognize that you have no wisdom to add - and that your best course is to trust some expert.
Charlie Munger
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Intelligent people make decisions based on opportunity costs.
Charlie Munger
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I think corporate managers should learn to be better investors because it would make them better managers.
Charlie Munger
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See's candy company was the first high-quality business we ever bought.
Charlie Munger
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The more hard lessons you can learn vicariously rather than through your own hard experience, the better.
Charlie Munger