Share
×
Inspirational Quotes
Authors
Professions
Topics
Tags
Quote
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
Share
Change background
T
T
T
Change font
Original
TAGS & TOPICS
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
Investing
Intelligent
Value
Values
Business
Order
Acquiring
Must
Stock
Paying
More quotes by Charlie Munger
Just avoid things like racing trains to the crossing, doing cocaine, etc. Develop good mental habits.
Charlie Munger
Avoid working directly under somebody you don't admire and don't want to be like.
Charlie Munger
A lot of share-buying, not bargain-seeking, is designed to prop stock prices up. Thirty to 40 years ago, it was very profitable to look at companies that were aggressively buying their own shares. They were motivated simply to buy below what it was worth.
Charlie Munger
Go to bed smarter than when you woke up.
Charlie Munger
Stock-picking is like gambling: those who win well, seldom bet, but when they do, they bet heavily.
Charlie Munger
The investment game is getting more and more competitive.
Charlie Munger
The game of life is the game of everlasting learning. At least it is if you want to win.
Charlie Munger
A Lesson on Elementary, Worldly Wisdom As It Relates To Investment Management & Business
Charlie Munger
I don't want to sell credit to people who are going to hurt themselves with it. You should only sell products that are good for the people who use them. Some disagree with this, but I know I'm right. That is to say, you're talking to a Republican who admires Elizabeth Warren.
Charlie Munger
We have a history when things are really horrible of wading in when no one else will.
Charlie Munger
When you borrow a man's car, always return it with a tank of gas.
Charlie Munger
Cicero's words also increased my personal satisfaction by supporting my long-standing rejection of a conventional point of view.
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
Derivative trading with mark-to-market accounting degenerates into mark-to-model. Two firms make a big derivative trade and the accountants on both sides show a large profit from the same trade.
Charlie Munger
Litigation is notoriously time-consuming, inefficient, costly and unpredictable.
Charlie Munger
If mutual fund directors are independent, then I'm the lead character in the Bolshoi Ballet.
Charlie Munger
We bought a doomed textile mill [Berkshire Hathaway] and a California S&L [Savings & Loan Wesco] just before a calamity. Both were bought at a discount to liquidation value.
Charlie Munger
The number one idea is to view a stock as an ownership of the business and to judge the staying quality of the business in terms of its competitive advantage. Look for more value in terms of discounted future cash-flow than you are paying for. Move only when you have an advantage.
Charlie Munger
See's candy company was the first high-quality business we ever bought.
Charlie Munger
Acknowledging what you don't know is the dawning of wisdom.
Charlie Munger