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When you borrow a man's car, always return it with a tank of gas.
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
Always
Men
Tank
Borrow
Tanks
Gas
Car
Return
More quotes by Charlie Munger
There's more honor in investment management than in investment banking.
Charlie Munger
I think track records are very important. If you start early trying to have a perfect one in some simple thing like honesty, you're well on your way to success in this world.
Charlie Munger
We don't like trading agony for money
Charlie Munger
If you can buy the best companies, over time the pricing takes care of itself.
Charlie Munger
A lot of success in life and business comes from knowing what you want to avoid: early death, a bad marriage, etc.
Charlie Munger
In fact I've probably never seen such a wide moat.
Charlie Munger
I know just enough about thermodynamics to understand that if it takes too much fossil-fuel energy to create ethanol, that's a very stupid way to solve an energy problem.
Charlie Munger
The stupid and dishonest accountants allowed the genie of totally inappropriate accounting to descend on derivatives books. And once this has happened - people get status, etc. - it's impossible to get it back into the bottle.
Charlie Munger
If only I had the influence with my wife and children that I have in some other quarters!
Charlie Munger
Don't do cocaine. Don't race trains. And avoid AIDS situations.
Charlie Munger
Fancy computers are engaging in legalized front-running. The profits are clearly coming from the rest of us - our college endowments and our pensions. Why is this legal? What the hell is the government thinking? It's like letting rats into a restaurant.
Charlie Munger
How could economics not be behavioral? If it isn't behavioral, what the hell is it?
Charlie Munger
Most people are too fretful, they worry to much. Success means being very patient, but aggressive when it's time.
Charlie Munger
In engineering, people have a big margin of safety. But in the financial world, people don't give a damn about safety. They let it balloon and balloon and balloon. It's aided by false accounting.
Charlie Munger
I think liberal art faculties at major universities have views that are not very sound, at least on public policy issues - they may know a lot of French however.
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
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
Spend each day trying to be a little wiser than you were when you woke up.
Charlie Munger
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
One of the first big bubbles, of course, was the huge and horrible South Sea Bubble in England. And the aftermath was interesting. Many of you probably don't remember what happened after the South Sea Bubble, which caused an enormous financial contraction, and a lot of pain. They banned publicly traded stock in England for decades.
Charlie Munger
