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The world of derivatives is full of holes that very few people are really aware of. It's like hydrogen and oxygen sitting on the corner waiting for a little flame.

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
Like
Corners
World
Aware
Derivatives
People
Sitting
Hydrogen
Full
Oxygen
Waiting
Flame
Littles
Flames
Little
Corner
Really
Holes

More quotes by Charlie Munger

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Just keep your head down and do your best.
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A rough rule in life is that an organization foolish in one way in dealing with a complex system is all too likely to be foolish in another.
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Being rational is a moral Imperative. You should never be stupider than you need to be.
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We’re partial to putting out large amounts of money where we won’t have to make another decision.
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We're emphasizing the knowable by predicting how certain people and companies will swim against the current. We're not predicting the fluctuation in the current.
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A Lesson on Elementary, Worldly Wisdom As It Relates To Investment Management & Business
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Bernie Ebbers and Ken Lay were caricatures - they were easy to spot. They were almost psychopaths. But it's much harder to spot problems at companies like Royal Dutch [Shell].
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We both (Charlie Munger and Warren Buffett) insist on a lot of time being available almost every day to just sit and think. That is very uncommon in American business. We read and think.
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The whole concept of dividing it up into 'value' and 'growth' strikes me as twaddle. It's convenient for a bunch of pension fund consultants to get fees prattling about and a way for one advisor to distinguish himself from another. But, to me, all intelligent investing is value investing.
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Warren spends 70 hours a week thinking about investing .
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Bull markets go to people's heads. If you're a duck on a pond, and it's rising due to a downpour, you start going up in the world. But you think it's you, not the pond.
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The safest way to get what you want is to deserve what you want.
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Is there such thing as a cheerful pessimist? That's what I am.
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I think that one should recognize reality even when one doesn't like it indeed, especially when one doesn't like it.
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Investing is where you find a few great companies and then sit on your ass.
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People always underestimate the ability of earth to increase its carrying capacity.
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I think the foundation at Berkshire [Buffett's stake in Berkshirewill pass to the Buffett Foundation upon his death] will be a plus because there will be a continuation of the culture. We'd still take in fine businesses run by people who love them.
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Move only when you have an advantage. It's very basic. You have to understand the odds and have the discipline to bet only when the odds are in your favor.
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Any year that you don't destroy one of your best-loved ideas is probably a wasted year
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Our job is to find a few intelligent things to do, not to keep up with every damn thing in the world.
Charlie Munger