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Intense interest in any subject is indispensable if you're really going to excel in it.

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
Subject
Subjects
Interest
Going
Really
Excel
Indispensable
Intense

More quotes by 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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It would be easier to screw up American Express than Coke or Gillette, but it's an immensely strong business.
Charlie Munger
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Bernie Ebbers and Ken Lay were caricatures - they were easy to spot. They were almost psychopaths. But it's much harder to spot problems at companies like Royal Dutch [Shell].
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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Practically everybody (1) overweighs the stuff that can be numbered, because it yields to the statistical techniques they’re taught in academia, and (2) doesn’t mix in the hard-to-measure stuff that may be more important. That is a mistake I’ve tried all my life to avoid, and I have no regrets for having done that.
Charlie Munger
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Never, ever, think about something else when you should be thinking about the power of incentives.
Charlie Munger
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I think I've been in the top 5% of my age cohort all my life in understanding the power of incentives, and all my life I've underestimated it.
Charlie Munger
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Your life must focus on the maximization of objectivity.
Charlie Munger
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We don't claim to have perfect morals, but at least we have a huge area of things that, while legal, are beneath us. We won't do them. Currently, there's a culture in Americathat says that anything that won't send you to prison is OK.
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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Great investing requires a lot of delayed gratification.
Charlie Munger
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Avoid working directly under somebody you don't admire and don't want to be like.
Charlie Munger
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It took us months of buying all the Coke stock we could to accumulate $1 billion worth - equal to 7% of the company. It's very hard to accumulate major positions.
Charlie Munger
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Understanding how to be a good investor makes you a better business manager and vice versa.
Charlie Munger
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Spend each day trying to be a little wiser than you were when you woke up.
Charlie Munger
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Move only when you have an advantage. It's very basic. You have to understand the odds and have the discipline to bet only when the odds are in your favor.
Charlie Munger
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It's not the bad ideas that do you in, but the good ones.
Charlie Munger
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It's dangerous to short stocks.
Charlie Munger
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The theory of modern education is that you need a general education before you specialize. And I think to some extent, before you're going to be a great stock picker, you need some general education.
Charlie Munger
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A rough rule in life is that an organization foolish in one way in dealing with a complex system is all too likely to be foolish in another.
Charlie Munger