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I'm not entitled to have an opinion unless I can state the arguments against my position better than the people who are in opposition. I think that I am qualified to speak only when I've reached that state.

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
Think
Argument
Thinking
Unless
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Position
Opinion
Arguments
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More quotes by 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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A banker who is allowed to borrow money at X and loan it out at X plus Y will just go crazy and do too much of it if the civilization doesn't have rules that prevent it.
Charlie Munger
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In my life there are not that many questions I can't properly deal with using my $40 adding machine and dog-eared compound interest table.
Charlie Munger
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Remember that reputation and integrity are your most valuable assets - and can be lost in a heartbeat.
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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We have a higher percentage of the intelligentsia engaged in buying and selling pieces of paper and promoting trading activity than in any past era. A lot of what I see now reminds me of Sodomand Gomorrah. You get activity feeding on itself, envy and imitation. It has happened in the past that there came bad consequences.
Charlie Munger
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You don't have to be brilliant, only a little bit wiser than the other guys, on average, for a long, long, time.
Charlie Munger
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The old culture had come out of poverty, out of English customs.
Charlie Munger
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Is anyone really surprised that Warren, who is the ultimate embodiment of concentrated decision-making power, picked somebody [Bill and Melinda Gates] who he thinks is like him in many important ways? It was a noble and sensible decision.
Charlie Munger
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I don't want to sell credit to people who are going to hurt themselves with it. You should only sell products that are good for the people who use them. Some disagree with this, but I know I'm right. That is to say, you're talking to a Republican who admires Elizabeth Warren.
Charlie Munger
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Accounting is a big subject and there are huge forces in play. The entire momentum of existing thinking and existing custom is in a direction that allows terrible follies to happen, and the terrible follies have terrible consequences.
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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We have a passion for keeping things simple.
Charlie Munger
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We try more to profit from always remembering the obvious than from grasping the esoteric.
Charlie Munger
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The reason we avoid the word 'synergy' is because people generally claim more synergistic benefits than will come. Yes, it exists, but there are so many false promises.Berkshire is full of synergies - we don't avoid synergies, just claims of synergies.
Charlie Munger
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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
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Proper accounting is like engineering. You need a margin of safety. Thank God we don't design bridges and airplanes the way we do accounting.
Charlie Munger
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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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I would argue that a majority of the horrors we face would not have happened if the accounting profession developed and enforced better accounting.
Charlie Munger
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There's more honor in investment management than in investment banking.
Charlie Munger