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When it gets into these spikes, with shortages and uproar and so forth, people go bananas, but that's capitalism.

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
Shortages
Spikes
Bananas
Shortage
Forth
Capitalism
Gets
People
Uproar

More quotes by Charlie Munger

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If you skillfully follow the multidisciplinary path, you will never wish to come back. It would be like cutting off your hands.
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To say accounting for derivatives is Americais a sewer is an insult to sewage.
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We're emphasizing the knowable by predicting how certain people and companies will swim against the current. We're not predicting the fluctuation in the current.
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Strategic plans cause more dumb decisions than anything else in America.
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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 rough rule in life is that an organization foolish in one way in dealing with a complex system is all too likely to be foolish in another.
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Warren is one of the best learning machines on this earth. The turtles who outrun the hares are learning machines. If you stop learning in this world, the world rushes right by you.
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It's been my experience in life if you just keep thinking and reading, you don't have to work.
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We have to have a special insight, or we'll put it in the 'too tough' basket. All of you have to look for a special area of competency and focus on that.
Charlie Munger
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You must know the big ideas in the big disciplines, and use them routinely - all of them, not just a few. Most people are trained in one model - economics, for example - and try to solve all problems in one way. You know the old saying: to the man with a hammer, the world looks like a nail. This is a dumb way of handling problems.
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Over the very long term, history shows that the chances of any business surviving in a manner agreeable to a company's owners are slim at best.
Charlie Munger
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If all you succeed in doing in life is getting rich by buying little pieces of paper, it's a failed life. Life is more than being shrewd in wealth accumulation.
Charlie Munger
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Just keep your head down and do your best.
Charlie Munger
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It's human nature to extrapolate the recent past into the future, but it's terrible that managements go along with this.
Charlie Munger
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It's in the nature of stock markets to go way down from time to time. There's no system to avoid bad markets. You can't do it unless you try to time the market, which is a seriously dumb thing to do. Conservative investing with steady savings without expecting miracles is the way to go.
Charlie Munger
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A lot of our respected financial institutions are just casinos in drag.
Charlie Munger
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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.
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In business we often find that the winning system goes almost ridiculously far in maximizing and or minimizing one or a few variables - like the discount warehouses of Costco.
Charlie Munger
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The investment game is getting more and more competitive.
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