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When you locate a bargain, you must ask, 'Why me, God? Why am I the only one who could find this bargain?'

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
Locate
Bargain
Bargains
Asks
Find
Must

More quotes by Charlie Munger

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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
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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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I regard it as very unfair, but capitalism without failure is like religion without hell.
Charlie Munger
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The safest way to get what you want is to deserve what you want.
Charlie Munger
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Most people are too fretful, they worry to much. Success means being very patient, but aggressive when it's time.
Charlie Munger
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If you have competence, you know the edge. It wouldnt be a competence if you didnt know where the boundaries lie. Asking whether youve passed the boundary is a question that almost answers itself.
Charlie Munger
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Tthe first rule is that you can't really know anything if you just remember isolated facts and try and bang 'em back. If the facts don't hang together on a latticework of theory, you don't have them in a usable form.... You may have noticed students who just try to remember and pound back what is remembered. Well, they fail in school and in life.
Charlie Munger
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There are worse situations than drowning in cash and sitting, sitting, sitting. I remember when I wasn’t awash in cash — and I don’t want to go back.
Charlie Munger
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Derivative trading with mark-to-market accounting degenerates into mark-to-model. Two firms make a big derivative trade and the accountants on both sides show a large profit from the same trade.
Charlie Munger
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It's stupid the way people extrapolate the past -- and not slightly stupid, but massively stupid.
Charlie Munger
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Part of [having uncommon sense] is being able to tune out folly, as opposed to recognizing wisdom. If you bat away many things, you don't clutter yourself.
Charlie Munger
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There is the sheer amount of Franklin's wisdom. And the talent. Franklin played four instruments. He was the nation's leading scientist and inventor, plus a leading author, statesman, and philanthropist. There has never been anyone like him.
Charlie Munger
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Let me know what your problem is, and I will try to make it more difficult for you.
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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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
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Develop into a lifelong self-learner through voracious reading cultivate curiosity and strive to become a little wiser every day.
Charlie Munger
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It's human nature to extrapolate the recent past into the future, but it's terrible that managements go along with this.
Charlie Munger
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Our experience tends to confirm a long-held notion that being prepared, on a few occasions in a lifetime, to act promptly in scale, in doing some simple and logical thing, will often dramatically improve the financial results of that lifetime.
Charlie Munger
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Trying to prioritize among things we're unlikely to do is pretty fruitless.
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