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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
Must
Stock
Investing
Value
Values
Business
Order

More quotes by Charlie Munger

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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
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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
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The investment game is getting more and more competitive.
Charlie Munger
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The liabilities are always 100 percent good. It's the assets you have to worry about.
Charlie Munger
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So, economics should emulate physics' basic ethos, but its search for precision in physics-like formulas is almost always wrong in economics.
Charlie Munger
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Being rational is a moral Imperative. You should never be stupider than you need to be.
Charlie Munger
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The cost of being a publicly traded stock has gone way, way up. It doesn't make sense for a little company to be public anymore. A lot of little companies are going private to be rid of these burdensome requirements.
Charlie Munger
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Once you start doing something bad, then it's easy to take the next step - and in the end, you're a moral sewer.
Charlie Munger
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If we've been a little more successful than other people, is because we always realised that the school of life was always open, and if you were not learning more you are falling behind.
Charlie Munger
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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
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We don't like trading agony for money
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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We've got great flexibility and a certain discipline in terms of not doing some foolish thing just to be active - discipline in avoiding just doing any damn thing just because you can't stand inactivity.
Charlie Munger
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I think the main figure that matters to all of us, including people in the media, is: How does GDP per capita grow? And those figures have been very good. There is a huge flux both up and down, so it isn't like we're all static in status. What's important is that pie grows.
Charlie Munger
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I think you'll make more money in the end with good ethics than bad. Even though there are some people who do very well, like Marc Rich-who plainly has never had any decent ethics, or seldom anyway. But in the end, Warren Buffett has done better than Marc Rich-in money-not just in reputation.
Charlie Munger
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If it happens every year like clockwork, what's so extraordinary about it?
Charlie Munger
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I think it would be a great improvement if there were no D&O insurance . The counter-argument is that no-one with any money would serve on a board. But I think net net you'd be better off.
Charlie Munger
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Over the very long term, history shows that the chances of any business surviving in a manner agreeable to a company's owners are slim at best.
Charlie Munger
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Darwin paid particular attention to disconfirming evidence. Objectivity maintenance routines are totally required in life if you're going to be a great thinker.
Charlie Munger
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Knowing what you don't know is more useful than being brilliant.
Charlie Munger