Share
×
Inspirational Quotes
Authors
Professions
Topics
Tags
Quote
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
Share
Change background
T
T
T
Change font
Original
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
Civilization
Banker
Crazy
Borrow
Doesn
Bankers
Money
Loan
Much
Prevent
Plus
Allowed
Rules
More quotes by Charlie Munger
You must value the business in order to value the stock.
Charlie Munger
Expect hogs to eat a lot more in the presence of a lot of hog wash.
Charlie Munger
The investment game always involves considering both quality and price, and the trick is to get more quality than you pay for in price. It's just that simple.
Charlie Munger
In fact I've probably never seen such a wide moat.
Charlie Munger
If (investing) weren't a little difficult, everybody would be rich.
Charlie Munger
You have to know accounting. It's the language of practical business life. It was a very useful thing to deliver to civilization. I've heard it came to civilization through Venice which of course was once the great commercial power in the Mediterranean. However, double entry bookkeeping was a hell of an invention.
Charlie Munger
...being an effective teacher is a high calling.
Charlie Munger
It's hard to predict what will happen with two brands in a market. Sometimes they will behave in a gentlemanly way, and sometimes they'll pound each other. I know of no way to predict whether they'll compete moderately or to the death. If you could figure it out, you could make a lot of money.
Charlie Munger
This is a good life lesson: getting the right people into your system is the most important thing you can do.
Charlie Munger
I don't spend much time regretting the past, once I've taken my lesson from it. I don't dwell on it.
Charlie Munger
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
We're the tortoise that has outrun the hare because it chose the easy predictions.
Charlie Munger
The basic concept of value to a private owner and being motivated when you're buying and selling securities by reference to intrinsic value instead of price momentum - I don't think that will ever be outdated.
Charlie Munger
The name of the game is continuing to learn. Even if you're very well trained and have some natural aptitude, you still need to keep learning.
Charlie Munger
For years I have read the morning paper and harrumphed. There's a lot to harrumph about now.
Charlie Munger
Well the open-outcry auction is just made to turn the brain into mush: you've got social proof, the other guy is bidding, you get reciprocation tendency, you get deprival super-reaction syndrome, the thing is going away... I mean it just absolutely is designed to manipulate people into idiotic behavior.
Charlie Munger
It's not a competency if you don't know the edge of it.
Charlie Munger
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
Great investing requires a lot of delayed gratification.
Charlie Munger
If you don't keep learning, other people will pass you by. Temperament alone won't do it - you need a lot of curiosity for a long, long time.
Charlie Munger
