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If mutual fund directors are independent, then I'm the lead character in the Bolshoi Ballet.

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
Lead
Character
Ballet
Fund
Mutual
Independent
Directors

More quotes by Charlie Munger

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Early Charlie Munger is a horrible career model for the young, because not enough was delivered to civilization in return for what was wrested from capitalism. And other similar career models are even worse.
Charlie Munger
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A great business at a fair price is superior to a fair business at a great price.
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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Beta and modern portfolio theory and the like - none of it makes any sense to me.
Charlie Munger
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Whenever you think something or some person is ruining your life, it's you. A victimization mentality is so debilitating.
Charlie Munger
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The whole concept of dividing it up into 'value' and 'growth' strikes me as twaddle. It's convenient for a bunch of pension fund consultants to get fees prattling about and a way for one advisor to distinguish himself from another. But, to me, all intelligent investing is value investing.
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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It would be easier to screw up American Express than Coke or Gillette, but it's an immensely strong business.
Charlie Munger
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I always like it when someone attractive to me agrees with me, so I have fond memories of Phil Fisher. The idea that it was hard to find good investments, so concentrate in a few, seems to me to be an obviously good idea. But 98% of the investment world doesn't think this way.
Charlie Munger
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You don't want to be like the motion picture exec who had so many people at his funeral, but they were there just make sure he was dead. Or how about the guy who, at his funeral, the priest said, Won't anyone stand up and say anything nice for the deceased? and finally someone said, Well, his brother was worse.
Charlie Munger
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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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To the man with only a hammer, every problem looks like a nail.
Charlie Munger
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To some extent, stocks are like Rembrandts. They sell based on what they've sold in the past. Bonds are much more rational. No-one thinks a bond's value will soar to the moon.
Charlie Munger
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I have a name for people who went to the extreme efficient market theory-which is bonkers. It was an intellectually consistent theory that enabled them to do pretty mathematics. So I understand its seductiveness to people with large mathematical gifts. It just had a difficulty in that the fundamental assumption did not tie properly to reality.
Charlie Munger
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At Berkshire Hathaway we do not like to compete against Chinese manufacturers.
Charlie Munger
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I feel that by getting rich in the way I did, I think my own example has hurt my own country.
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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If you can buy the best companies, over time the pricing takes care of itself.
Charlie Munger
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...being an effective teacher is a high calling.
Charlie Munger
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Proper accounting is like engineering. You need a margin of safety. Thank God we don't design bridges and airplanes the way we do accounting.
Charlie Munger