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Your life must focus on the maximization of objectivity.
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
Maximization
Objectivity
Insightful
Investing
Focus
Values
Must
More quotes by Charlie Munger
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
I'm right, and you're smart, and sooner or later you'll see I'm right.
Charlie Munger
Is there such thing as a cheerful pessimist? That's what I am.
Charlie Munger
It's been my experience in life if you just keep thinking and reading, you don't have to work.
Charlie Munger
The old culture had come out of poverty, out of English customs.
Charlie Munger
Great investing requires a lot of delayed gratification.
Charlie Munger
I would argue that a majority of the horrors we face would not have happened if the accounting profession developed and enforced better accounting.
Charlie Munger
A director who gets $150,000 per year from a company and needs the money is not independent.
Charlie Munger
I have a name for people who went to the extreme efficient market theory-which is bonkers. It was an intellectually consistent theory that enabled them to do pretty mathematics. So I understand its seductiveness to people with large mathematical gifts. It just had a difficulty in that the fundamental assumption did not tie properly to reality.
Charlie Munger
If we mix only a moderate minority share of turds with the raisins each year, probably no one will recognize what will ultimately become a very large collection of turds.
Charlie Munger
Our biggest mistakes, were things we didn't do, companies we didn't buy.
Charlie Munger
The ethos of not fooling yourself is one of the best you could possibly have. It's powerful because it's so rare.
Charlie Munger
We try more to profit from always remembering the obvious than from grasping the esoteric.
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
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
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
Knowing what you don't know is more useful than being brilliant.
Charlie Munger
It's not the bad ideas that do you in, but the good ones.
Charlie Munger
Sears had layers and layers of people it didn't need. It was very bureaucratic. It was slow to think. And there was an established way of thinking. If you poked your head up with a new thought, the system kind of turned against you. It was everything in the way of a dysfunctional big bureaucracy that you would expect.
Charlie Munger
Forgetting your mistakes is a terrible error if you are trying to improve your cognition.
Charlie Munger
