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Spend each day trying to be a little wiser than you were when you woke up.
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
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Trying
Slugs
Woke
Wiser
Investing
Spend
Littles
More quotes by Charlie Munger
If you want to understand science, you have to understand math. In business, if you're enumerate, you're going to be a klutz. The good thing about business is that you don't have to know any higher math.
Charlie Munger
In investment management today, everybody wants not only to win, but to have a yearly outcome path that never diverges very much from a standard path except on the upside. Well, that is a very artificial, crazy construct. That's the equivalent in investment management to the custom of binding the feet of Chinese women
Charlie Munger
We may well have a competitive advantage buying decent businesses at decent prices. But they won't be fabulous businesses and fabulous prices. There's too much competition and money out there, with many buyout specialists.
Charlie Munger
Financial institutions make us nervous when they're trying to do well.
Charlie Munger
Whenever you think something or some person is ruining your life, it's you. A victimization mentality is so debilitating.
Charlie Munger
I'm right, and you're smart, and sooner or later you'll see I'm right.
Charlie Munger
It is an unfortunate fact that great and foolish excess can come into prices of common stocks in the aggregate. They are valued partly like bonds, based on roughly rational projections of use value in producing future cash. But they are also valued partly like Rembrandt paintings, purchased mostly because their prices have gone up, so far.
Charlie Munger
The liabilities are always 100 percent good. It's the assets you have to worry about.
Charlie Munger
We try more to profit from always remembering the obvious than from grasping the esoteric.
Charlie Munger
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
The big money is not in the buying and selling ... but in the waiting.
Charlie Munger
The tax code gives you an enormous advantage if you can find some things you can just sit with.
Charlie Munger
I think corporate managers should learn to be better investors because it would make them better managers.
Charlie Munger
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
It's human nature to extrapolate the recent past into the future, but it's terrible that managements go along with this.
Charlie Munger
Any year that you don't destroy one of your best-loved ideas is probably a wasted year
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.
Charlie Munger
It's not a competency if you don't know the edge of it.
Charlie Munger
When you borrow a man's car, always return it with a tank of gas.
Charlie Munger
One metric catches people. We prefer businesses that drown in cash. An example of a different business is construction equipment. You work hard all year and there is your profit sitting in the yard. We avoid businesses like that. We prefer those that can write us a check at the end of the year.
Charlie Munger