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Cicero's words also increased my personal satisfaction by supporting my long-standing rejection of a conventional point of view.

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
Point
Increased
Words
Conventional
Also
Rejection
Long
Satisfaction
Standing
View
Personal
Cicero
Views
Supporting

More quotes by 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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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.
Charlie Munger
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A lot of success in life and business comes from knowing what you want to avoid: early death, a bad marriage, etc.
Charlie Munger
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It's stupid the way people extrapolate the past -- and not slightly stupid, but massively stupid.
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.
Charlie Munger
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The number one idea is to view a stock as an ownership of the business and to judge the staying quality of the business in terms of its competitive advantage. Look for more value in terms of discounted future cash-flow than you are paying for. Move only when you have an advantage.
Charlie Munger
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It's dangerous to short stocks.
Charlie Munger
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For years I have read the morning paper and harrumphed. There's a lot to harrumph about now.
Charlie Munger
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Economics is in many respects the queen of the soft sciences. It's expected to be better than the rest. It's my view that economics is better at the multi-disciplinary stuff than the rest of the soft science. And it's also my view that it's still lousy.
Charlie Munger
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To atone, I teach and try to set an example... I love spreading this stuff around. Just because it's trite doesn't mean it isn't right. In fact, I like to say, 'If it's trite, it's right.'
Charlie Munger
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We don't like trading agony for money
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.
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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Beta and modern portfolio theory and the like - none of it makes any sense to me.
Charlie Munger
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You have to realize the truth of biologist Julian Huxley's idea that 'Life is just one damn relatedness after another' So you must have the models, and you must see the relatedness and the effects from the relatedness.
Charlie Munger
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Just avoid things like racing trains to the crossing, doing cocaine, etc. Develop good mental habits.
Charlie Munger
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There are worse situations than drowning in cash and sitting, sitting, sitting. I remember when I wasn’t awash in cash — and I don’t want to go back.
Charlie Munger
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To say accounting for derivatives is Americais a sewer is an insult to sewage.
Charlie Munger
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We tend to buy things - a lot of things - where we don't know exactly what will happen, but the outcome will be decent.
Charlie Munger
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Tthe first rule is that you can't really know anything if you just remember isolated facts and try and bang 'em back. If the facts don't hang together on a latticework of theory, you don't have them in a usable form.... You may have noticed students who just try to remember and pound back what is remembered. Well, they fail in school and in life.
Charlie Munger