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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

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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
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French
Public
Majors
Sound
Major
Art
University
May
However
Faculties
Think
Policy
Universities
Thinking
Views
Faculty
Issues
Liberal

More quotes by Charlie Munger

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The game of life is the game of everlasting learning. At least it is if you want to win.
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If mutual fund directors are independent, then I'm the lead character in the Bolshoi Ballet.
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When you locate a bargain, you must ask, 'Why me, God? Why am I the only one who could find this bargain?'
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Intense interest in any subject is indispensable if you're really going to excel in it.
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We try more to profit from always remembering the obvious than from grasping the esoteric.
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If you always tell people why, they'll understand it better, they'll consider it more important, and they'll be more likely to comply.
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Just avoid things like racing trains to the crossing, doing cocaine, etc. Develop good mental habits.
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Part of [having uncommon sense] is being able to tune out folly, as opposed to recognizing wisdom. If you bat away many things, you don't clutter yourself.
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We're the tortoise that has outrun the hare because it chose the easy predictions.
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I did not succeed in life by intelligence. I succeeded because I have a long attention span.
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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.
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The big money is not in the buying and selling ... but in the waiting.
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Sears had layers and layers of people it didn't need. It was very bureaucratic. It was slow to think. And there was an established way of thinking. If you poked your head up with a new thought, the system kind of turned against you. It was everything in the way of a dysfunctional big bureaucracy that you would expect.
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Warren spends 70 hours a week thinking about investing .
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Stock-picking is like gambling: those who win well, seldom bet, but when they do, they bet heavily.
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We’re partial to putting out large amounts of money where we won’t have to make another decision.
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A lot of our respected financial institutions are just casinos in drag.
Charlie Munger
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I think that one should recognize reality even when one doesn't like it indeed, especially when one doesn't like it.
Charlie Munger
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[Lawyers who file class-action securities suits] is not a group you would want to marry into your family. That said, more than half the time the people being sued by the Lerach firm are guilty of outrageous conduct. The problem is, they don't mind (suing) the other half. They are an equal opportunity litigator.
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If the same family were always on the bottom, then you'd have big resentments. But if DuPonts go down and Pampered Chef up, [that's good]. That much churn makes people think the system is fairer. Buffett: We don't like churn now, but we liked it more 30-40 years ago.
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