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Don't do cocaine. Don't race trains. And avoid AIDS situations.

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
Avoid
Train
Situation
Race
Trains
Cocaine
Situations
Aids

More quotes by Charlie Munger

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I'm right, and you're smart, and sooner or later you'll see I'm right.
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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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
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Is there such thing as a cheerful pessimist? That's what I am.
Charlie Munger
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Our job is to find a few intelligent things to do, not to keep up with every damn thing in the world.
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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The tax code gives you an enormous advantage if you can find some things you can just sit with.
Charlie Munger
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I have a black belt in chutzpah. I was born with it. Some people, like some of the women I know, have a black belt in spending. They were born with that. But what they gave me was a black belt in chutzpah.
Charlie Munger
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I bet Richard Fuld doesn't have an ounce of contrition. It's just megalomania. When it's like that, you need rules to prevent catastrophe. When banks are borrowing the government's credit rating, you need rules to prevent stupid things.
Charlie Munger
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The best thing a human being can do is to help another human being know more.
Charlie Munger
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If we've been a little more successful than other people, is because we always realised that the school of life was always open, and if you were not learning more you are falling behind.
Charlie Munger
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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
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If you want to understand science, you have to understand math. In business, if you're enumerate, you're going to be a klutz. The good thing about business is that you don't have to know any higher math.
Charlie Munger
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How could economics not be behavioral? If it isn't behavioral, what the hell is it?
Charlie Munger
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While no real money came down, my family gave me a good education and a marvelous example of how people should behave, and in the end that was more valuable than money. Being surrounded by the right values from the beginning is an immense treasure. Warrenhad that. It even has a financial advantage.
Charlie Munger
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Any year that you don't destroy one of your best-loved ideas is probably a wasted year
Charlie Munger
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We have found in a long life that one competitor is frequently enough to ruin a business.
Charlie Munger
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We’re partial to putting out large amounts of money where we won’t have to make another decision.
Charlie Munger
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A lot of our respected financial institutions are just casinos in drag.
Charlie Munger
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Bull markets go to people's heads. If you're a duck on a pond, and it's rising due to a downpour, you start going up in the world. But you think it's you, not the pond.
Charlie Munger