Quote

I believe in the discipline of mastering the best that other people have ever figured out. I don't believe in just sitting down and trying to dream it all up yourself. Nobody's that smart.

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
Best
Mastering
Ever
Figured
Investing
Trying
Discipline
Believe
Smart
People
Sitting
Nobody
Dream

More quotes by 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 try more to profit from always remembering the obvious than from grasping the esoteric.
Charlie Munger
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The tax code gives you an enormous advantage if you can find some things you can just sit with.
Charlie Munger
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Opportunity cost is a huge filter in life. If you've got two suitors who are really eager to have you and one is way the hell better than the other, you do not have to spend much time with the other. And that's the way we filter out buying opportunities.
Charlie Munger
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When it gets into these spikes, with shortages and uproar and so forth, people go bananas, but that's capitalism.
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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...all man's desired geometric progressions, if a high rate of growth is chosen, at last come to grief on a finite earth. And the social system for man on earth is fair enough, eventually, that almost all massive cheating ends in disgrace.
Charlie Munger
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We don't claim to have perfect morals, but at least we have a huge area of things that, while legal, are beneath us. We won't do them. Currently, there's a culture in Americathat says that anything that won't send you to prison is OK.
Charlie Munger
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Our biggest mistakes, were things we didn't do, companies we didn't buy.
Charlie Munger
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There has never been a master plan. Anyone who wanted to do it, we fired because it takes on a life of its own and doesn't cover new reality. We want people taking into account new information.
Charlie Munger
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The game of life is the game of everlasting learning. At least it is if you want to win.
Charlie Munger
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The big money is not in the buying and selling ... but in the waiting.
Charlie Munger
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You have to have a temperament to grab ideas and do sensible things. Most people don’t grab the right ideas or don’t know what to do with them.
Charlie Munger
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Warren spends 70 hours a week thinking about investing .
Charlie Munger
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A lot of success in life and business comes from knowing what you want to avoid: early death, a bad marriage, etc.
Charlie Munger
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There's more honor in investment management than in investment banking.
Charlie Munger
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Every business tries to turn this year's success into next year's greater success. It's hard for me to see why Microsoft is sinful to do this. If it's a sin, then I hope all of Berkshire Hathaway's subsidiaries are sinners. Someone whose salary is paid by U.S.taxpayers is happy to dramatically weaken the one place where we're winning big?!
Charlie Munger
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Three rules for a career: 1) Don’t sell anything you wouldn’t buy yourself 2) Don’t work for anyone you don’t respect and admire and 3) Work only with people you enjoy.
Charlie Munger
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We only want what success we can get despite encouraging others to share our general view about reality.
Charlie Munger
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If you can get good at destroying your own wrong ideas, that is a great gift.
Charlie Munger