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The best thing a human being can do is to help another human being know more.

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
Human
Humans
Investing
Thing
Knowledge
Help
Inspirational
Helping
Another
Best

More quotes by Charlie Munger

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Warren spends 70 hours a week thinking about investing .
Charlie Munger
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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.
Charlie Munger
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Wesco had a market capitalization of $40 million when we bought it [in the early 1970s]. It's $2 billion now. It's been a long slog to a perfectly respectable outcome - not as good as Berkshire Hathaway or Microsoft, but there's always someone in life who's done better.
Charlie Munger
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We're the tortoise that has outrun the hare because it chose the easy predictions.
Charlie Munger
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Every business tries to turn this year's success into next year's greater success. It's hard for me to see why Microsoft is sinful to do this. If it's a sin, then I hope all of Berkshire Hathaway's subsidiaries are sinners. Someone whose salary is paid by U.S.taxpayers is happy to dramatically weaken the one place where we're winning big?!
Charlie Munger
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I believe in the discipline of mastering the best that other people have ever figured out. I don't believe in just sitting down and trying to dream it all up yourself. Nobody's that smart.
Charlie Munger
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The basic concept of value to a private owner and being motivated when you're buying and selling securities by reference to intrinsic value instead of price momentum - I don't think that will ever be outdated.
Charlie Munger
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The SEC does way more good than harm - the last thing I would do is get rid of the SEC...if accounting were thoroughly fixed, a lot of other sins would go away. We're paying a huge price for deterioration of accounting.
Charlie Munger
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The first chance you have to avoid a loss from a foolish loan is by refusing to make it there is no second chance.
Charlie Munger
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When it gets into these spikes, with shortages and uproar and so forth, people go bananas, but that's capitalism.
Charlie Munger
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Just keep your head down and do your best.
Charlie Munger
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Failure to handle psychological denial is a common way for people to go broke: you have made an enormous commitment to something. You have poured effort and money in. And the more you put in, the more that the whole consistency principle makes you think, Now it has to work. If I put in just a little more, then it will work.
Charlie Munger
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One metric catches people. We prefer businesses that drown in cash. An example of a different business is construction equipment. You work hard all year and there is your profit sitting in the yard. We avoid businesses like that. We prefer those that can write us a check at the end of the year.
Charlie Munger
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In business we often find that the winning system goes almost ridiculously far in maximizing and or minimizing one or a few variables - like the discount warehouses of Costco.
Charlie Munger
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[With] closet indexing....you're paying a manager a fortune and he has 85% of his assets invested parallel to the indexes. If you have such a system, you're being played for a sucker.
Charlie Munger
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Quoting Demosthenes, 'For what each man wishes, that he also believes to be true.' I would rather make money playing a piano in a whorehouse than arguing that no cost is incurred when employees are paid in stock options instead of cash. I am not kidding.
Charlie Munger
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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
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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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I don't invest in what I don't understand. And I don't want to understand Facebook.
Charlie Munger
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The game of life is the game of everlasting learning. At least it is if you want to win.
Charlie Munger