Quote

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

Change background

T
T
T

Change font

TAGS & TOPICS

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
Gave
Born
Black
Women
Like
Chutzpah
People
Belt
Belts
Spending

More quotes by Charlie Munger

Image
Warren spends 70 hours a week thinking about investing .
Charlie Munger
Image
Beta and modern portfolio theory and the like - none of it makes any sense to me.
Charlie Munger
Image
To me, it's obvious that the winner has to bet very selectively. It's been obvious to me since very early in life. I don't know why it's not obvious to very many other people.
Charlie Munger
Image
Just avoid things like racing trains to the crossing, doing cocaine, etc. Develop good mental habits.
Charlie Munger
Image
I think you'll make more money in the end with good ethics than bad. Even though there are some people who do very well, like Marc Rich-who plainly has never had any decent ethics, or seldom anyway. But in the end, Warren Buffett has done better than Marc Rich-in money-not just in reputation.
Charlie Munger
Image
So, economics should emulate physics' basic ethos, but its search for precision in physics-like formulas is almost always wrong in economics.
Charlie Munger
Image
The reason we avoid the word 'synergy' is because people generally claim more synergistic benefits than will come. Yes, it exists, but there are so many false promises.Berkshire is full of synergies - we don't avoid synergies, just claims of synergies.
Charlie Munger
Image
It's a finite and very competitive world. All large aggregations of capital eventually find it hell on earth to grow and thus find a lower rate of return.
Charlie Munger
Image
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
Image
We've had the most massive creation of wealth for people a lot younger than those who formerly got wealth in the history of the world. The world is full of young people who really want to get rich, and when I left school nobody thought it was a reasonable possibility.
Charlie Munger
Image
Expect hogs to eat a lot more in the presence of a lot of hog wash.
Charlie Munger
Image
I did not succeed in life by intelligence. I succeeded because I have a long attention span.
Charlie Munger
Image
One of the smartest things a person can do is dampen investment expectations, especially with Berkshire. That would be mature and responsible. I like our model and we should do nicely
Charlie Munger
Image
If you get into the mental habit of relating what you're reading to the basic structure of the underlying ideas being demonstrated, you gradually accumulate some wisdom.
Charlie Munger
Image
...being an effective teacher is a high calling.
Charlie Munger
Image
Once you start doing something bad, then it's easy to take the next step - and in the end, you're a moral sewer.
Charlie Munger
Image
How could economics not be behavioral? If it isn't behavioral, what the hell is it?
Charlie Munger
Image
We have a high moral responsibility to be rational
Charlie Munger
Image
There’s no way that you can live an adequate life without many mistakes. In fact, one trick in life is to get so you can handle mistakes. Failure to handle psychological denial is a common way for people to go broke.
Charlie Munger
Image
We have the same problem as everyone else: It's very hard to predict the future.
Charlie Munger