Quote

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

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
Bargain
Bargains
Asks
Find
Must
Locate

More quotes by Charlie Munger

Image
You must value the business in order to value the stock.
Charlie Munger
Image
It's not supposed to be easy. Anyone who finds it easy is stupid.
Charlie Munger
Image
No wise pilot, no matter how great his talent and experience, fails to use his checklist.
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've had the most massive creation of wealth for people a lot younger than those who formerly got wealth in the history of the world. The world is full of young people who really want to get rich, and when I left school nobody thought it was a reasonable possibility.
Charlie Munger
Image
We have the same problem as everyone else: It's very hard to predict the future.
Charlie Munger
Image
The ethos of not fooling yourself is one of the best you could possibly have. It's powerful because it's so rare.
Charlie Munger
Image
For years I have read the morning paper and harrumphed. There's a lot to harrumph about now.
Charlie Munger
Image
I think it is undeniably true that the human brain must work in models. The trick is to have your brain work better than the other person's brain because it understands the most fundamental models- ones that will do most work per unit.
Charlie Munger
Image
Litigation is notoriously time-consuming, inefficient, costly and unpredictable.
Charlie Munger
Image
I think the idea that the hedge fund manager gets lower taxes than the taxi driver or the physics professor is insane. The legislators who leave that policy in place are derelict in their duties to be rational and fair. There are plenty of them in both political parties. It's totally outrageous.
Charlie Munger
Image
It's a rare business that doesn't have a way worse future than it has a past.
Charlie Munger
Image
I never allow myself to have an opinion on anything that I don't know the other side's argument better than they do.
Charlie Munger
Image
The number one idea is to view a stock as an ownership of the business and to judge the staying quality of the business in terms of its competitive advantage. Look for more value in terms of discounted future cash-flow than you are paying for. Move only when you have an advantage.
Charlie Munger
Image
I think the notion...that liquidity is this - of tradable common stock - is a great contributor to capitalism - I think that is mostly twaddle... The liquidity gives us these crazy booms, which have many problems as well as virtues.
Charlie Munger
Image
The world is getting very much more competitive.
Charlie Munger
Image
...all man's desired geometric progressions, if a high rate of growth is chosen, at last come to grief on a finite earth. And the social system for man on earth is fair enough, eventually, that almost all massive cheating ends in disgrace.
Charlie Munger
Image
Warren spends 70 hours a week thinking about investing .
Charlie Munger
Image
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
Image
I think gold is a great thing to sew onto your garments if you're a Jewish family in Vienna in 1939, but civilized people don't buy gold, they invest in productive businesses.
Charlie Munger