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Someone will always be getting richer faster than you. This is not a tragedy.

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
Always
Richer
Faster
Tragedy
Wealth
Getting
Someone

More quotes by Charlie Munger

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If the technology hadn't changed, they [newspapers] would still be great businesses. Network TV [in its heyday], anyone could run and do well. If Tom Murphy as running it, you'd do very well, but even your idiot nephew could do well. Fortunately, carbide cutting tools [such as those made by Iscar] don't have these types of substitutes.
Charlie Munger
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Over the very long term, history shows that the chances of any business surviving in a manner agreeable to a company's owners are slim at best.
Charlie Munger
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People calculate too much and think too little.
Charlie Munger
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We don't have an isolated group [of senior managers] surrounded by servants. Berkshire's headquarters is a tiny little suite. We just came back from Berkshire's board meeting it had moved up to the board room of the Kiewit company and [it was so large and luxurious that] I felt uncomfortable.
Charlie Munger
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One of the first big bubbles, of course, was the huge and horrible South Sea Bubble in England. And the aftermath was interesting. Many of you probably don't remember what happened after the South Sea Bubble, which caused an enormous financial contraction, and a lot of pain. They banned publicly traded stock in England for decades.
Charlie Munger
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We try more to profit from always remembering the obvious than from grasping the esoteric.
Charlie Munger
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Develop into a lifelong self-learner through voracious reading cultivate curiosity and strive to become a little wiser every day.
Charlie Munger
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Knowing what you don't know is more useful than being brilliant.
Charlie Munger
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I see almost no change in the price of the composite product that flows through Costco I don't feel sorry for the people who pay $27 million for an 8,000-square-foot condo in Manhattan. So inflation comes in places.
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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As I continued through Cicero's pages, I found much more material celebrating my way of life.
Charlie Munger
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I feel that by getting rich in the way I did, I think my own example has hurt my own country.
Charlie Munger
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If the same family were always on the bottom, then you'd have big resentments. But if DuPonts go down and Pampered Chef up, [that's good]. That much churn makes people think the system is fairer. Buffett: We don't like churn now, but we liked it more 30-40 years ago.
Charlie Munger
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You've got to have models in your head and you've got to array you experience - both vicarious and direct - onto this latticework of mental models.
Charlie Munger
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I think I've been in the top 5% of my age cohort all my life in understanding the power of incentives, and all my life I've underestimated it.
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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To me, it's obvious that the winner has to bet very selectively. It's been obvious to me since very early in life. I don't know why it's not obvious to very many other people.
Charlie Munger
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You must force yourself to consider opposing arguments. Especially when they challenge your best loved ideas.
Charlie Munger
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We’re partial to putting out large amounts of money where we won’t have to make another decision.
Charlie Munger
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I don't invest in what I don't understand. And I don't want to understand Facebook.
Charlie Munger