Quote

A lot of our respected financial institutions are just casinos in drag.

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
Respected
Drag
Financial
Institutions
Casinos

More quotes by Charlie Munger

Image
No wise pilot, no matter how great his talent and experience, fails to use his checklist.
Charlie Munger
Image
Never, ever, think about something else when you should be thinking about the power of incentives.
Charlie Munger
Image
To atone, I teach and try to set an example... I love spreading this stuff around. Just because it's trite doesn't mean it isn't right. In fact, I like to say, 'If it's trite, it's right.'
Charlie Munger
Image
Some people seem to think there's no trouble just because it hasn't happened yet. If you jump out the window at the 42nd floor and you're still doing fine as you pass the 27th floor, that doesn't mean you don't have a serious problem. I would want to address the problem right now.
Charlie Munger
Image
Assume life will be really tough, and then ask if you can handle it. If the answer is yes, you've won.
Charlie Munger
Image
Most people are too fretful, they worry to much. Success means being very patient, but aggressive when it's time.
Charlie Munger
Image
I like people admitting they were complete stupid horses' asses. I know I'll perform better if I rub my nose in my mistakes. This is a wonderful trick to learn.
Charlie Munger
Image
Let me know what your problem is, and I will try to make it more difficult for you.
Charlie Munger
Image
We're the tortoise that has outrun the hare because it chose the easy predictions.
Charlie Munger
Image
Spend each day trying to be a little wiser than you were when you woke up.
Charlie Munger
Image
If you can get good at destroying your own wrong ideas, that is a great gift.
Charlie Munger
Image
The liabilities are always 100 percent good. It's the assets you have to worry about.
Charlie Munger
Image
You could argue that [the decline of public schools] is one of the major disasters in our lifetimes. We took one of the greatest successes in the history of the earth and turned it into one of the greatest disasters in the history of the earth.
Charlie Munger
Image
A director who gets $150,000 per year from a company and needs the money is not independent.
Charlie Munger
Image
My idea of a good place to shop is Costco - it has these heavily marbled fillet steaks. The idea of eating some wheat thing and washing it down with carrot juice has never appealed to me.
Charlie Munger
Image
Is there such thing as a cheerful pessimist? That's what I am.
Charlie Munger
Image
I'm a bull on Berkshire Hathaway. There may be some considerable waiting, but I think there are some good days ahead.
Charlie Munger
Image
We only want what success we can get despite encouraging others to share our general view about reality.
Charlie Munger
Image
If only I had the influence with my wife and children that I have in some other quarters!
Charlie Munger
Image
I've heard that one-half of the students at elite schools want to go into private equity or hedge funds. They want to keep up with their age cohorts at Goldman. This can't possibly end well in terms of meeting these expectations.
Charlie Munger