Quote

You need a different checklist and different mental models for different companies. I can never make it easy by saying, 'Here are three things.' You have to derive it yourself to ingrain it in your head for the rest of your life.

Charlie Munger

Change background

T
T
T

Change font

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
Need
Mental
Different
Models
Needs
Rest
Make
Saying
Things
Head
Checklist
Never
Company
Checklists
Life
Easy
Derive
Three
Companies

More quotes by Charlie Munger

Image
It would be easier to screw up American Express than Coke or Gillette, but it's an immensely strong business.
Charlie Munger
Image
We have a passion for keeping things simple.
Charlie Munger
Image
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
Image
While no real money came down, my family gave me a good education and a marvelous example of how people should behave, and in the end that was more valuable than money. Being surrounded by the right values from the beginning is an immense treasure. Warrenhad that. It even has a financial advantage.
Charlie Munger
Image
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
Image
There are a lot of things in life way more important than money. All that said, some people do get confused. I play golf with a man who says, What good is health? You can't buy money with it.
Charlie Munger
Image
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
Image
Go to bed smarter than when you woke up.
Charlie Munger
Image
To some extent, stocks are like Rembrandts. They sell based on what they've sold in the past. Bonds are much more rational. No-one thinks a bond's value will soar to the moon.
Charlie Munger
Image
We don't have any miraculous way of avoiding taxes at Wesco and Berkshire.
Charlie Munger
Image
When it gets into these spikes, with shortages and uproar and so forth, people go bananas, but that's capitalism.
Charlie Munger
Image
Our biggest mistakes, were things we didn't do, companies we didn't buy.
Charlie Munger
Image
Knowing what you don't know is more useful than being brilliant.
Charlie Munger
Image
If only I had the influence with my wife and children that I have in some other quarters!
Charlie Munger
Image
Financial institutions make us nervous when they're trying to do well.
Charlie Munger
Image
If you have competence, you pretty much know its boundaries already. To ask the question (of whether you are past the boundary) is to answer it.
Charlie Munger
Image
We only want what success we can get despite encouraging others to share our general view about reality.
Charlie Munger
Image
The old culture had come out of poverty, out of English customs.
Charlie Munger
Image
When you locate a bargain, you must ask, 'Why me, God? Why am I the only one who could find this bargain?'
Charlie Munger
Image
Fancy computers are engaging in legalized front-running. The profits are clearly coming from the rest of us - our college endowments and our pensions. Why is this legal? What the hell is the government thinking? It's like letting rats into a restaurant.
Charlie Munger