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People always underestimate the ability of earth to increase its carrying capacity.
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
Earth
Always
People
Underestimate
Carrying
Increase
Capacity
Ability
More quotes by Charlie Munger
You'll find many markets where bottlers of Pepsi and Coke both make a lot of money and many others where they destroy most of the profitability of the two franchises. That must get down to the peculiarities of individual adjustment to market capitalism. I think you 'd have to know the people involved to fully understand what was happening.
Charlie Munger
I did not succeed in life by intelligence. I succeeded because I have a long attention span.
Charlie Munger
The name of the game is continuing to learn. Even if you're very well trained and have some natural aptitude, you still need to keep learning.
Charlie Munger
...all man's desired geometric progressions, if a high rate of growth is chosen, at last come to grief on a finite earth. And the social system for man on earth is fair enough, eventually, that almost all massive cheating ends in disgrace.
Charlie Munger
I think there's an awful lot of twaddle and bullshit on EVA. The whole game is to turn retained earnings into more earnings. EVA has ideas about cost of capital that make no sense. Of course, if a company generates high returns on capital and can maintain this over time, it will do well. But the mental system as a whole does not work.
Charlie Munger
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.
Charlie Munger
I think the notion...that liquidity is this - of tradable common stock - is a great contributor to capitalism - I think that is mostly twaddle... The liquidity gives us these crazy booms, which have many problems as well as virtues.
Charlie Munger
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
The cost of being a publicly traded stock has gone way, way up. It doesn't make sense for a little company to be public anymore. A lot of little companies are going private to be rid of these burdensome requirements.
Charlie Munger
The safest way to get what you want is to deserve what you want.
Charlie Munger
The world of derivatives is full of holes that very few people are really aware of. It's like hydrogen and oxygen sitting on the corner waiting for a little flame.
Charlie Munger
There has never been a master plan. Anyone who wanted to do it, we fired because it takes on a life of its own and doesn't cover new reality. We want people taking into account new information.
Charlie Munger
Missing out on some opportunity never bothers us. What's wrong with someone getting a little richer than you? It's crazy to worry about this.
Charlie Munger
Just keep your head down and do your best.
Charlie Munger
If people tell you what you really don't want to hear what's unpleasant-there's an almost automatic reaction of antipathy. You have to train yourself out of it.
Charlie Munger
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
For years I have read the morning paper and harrumphed. There's a lot to harrumph about now.
Charlie Munger
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.
Charlie Munger
The stupid and dishonest accountants allowed the genie of totally inappropriate accounting to descend on derivatives books. And once this has happened - people get status, etc. - it's impossible to get it back into the bottle.
Charlie Munger
Knowing what you don't know is more useful than being brilliant.
Charlie Munger