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The laws of thermodynamic s are such that if the water is getting warmer - and I believe it is - the energy of the weather is going to go up.
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
Weather
Laws
Law
Getting
Water
Energy
Going
Believe
Warmer
More quotes by Charlie Munger
In engineering, people have a big margin of safety. But in the financial world, people don't give a damn about safety. They let it balloon and balloon and balloon. It's aided by false accounting.
Charlie Munger
A few public hangings will really change behavior. One of our Presidents said if he could execute three people each year for no cause, it would make it a lot easier to govern. When someone said that's not enough, he said, Oh yes it is, because I'd publish the list of people under consideration.
Charlie Munger
Just keep your head down and do your best.
Charlie Munger
When you locate a bargain, you must ask, 'Why me, God? Why am I the only one who could find this bargain?'
Charlie Munger
Clever derivatives broke dozens of companies. It killed them. Bankrupt. We don't need these kinds of innovation in finance. It's OK to be boring in finance. What we want is innovation in widgets.
Charlie Munger
Assume life will be really tough, and then ask if you can handle it. If the answer is yes, you've won.
Charlie Munger
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
I don't invest in what I don't understand. And I don't want to understand Facebook.
Charlie Munger
If we mix only a moderate minority share of turds with the raisins each year, probably no one will recognize what will ultimately become a very large collection of turds.
Charlie Munger
When you borrow a man's car, always return it with a tank of gas.
Charlie Munger
Is there such thing as a cheerful pessimist? That's what I am.
Charlie Munger
The old culture had come out of poverty, out of English customs.
Charlie Munger
I think that one should recognize reality even when one doesn't like it indeed, especially when one doesn't like it.
Charlie Munger
We've got great flexibility and a certain discipline in terms of not doing some foolish thing just to be active - discipline in avoiding just doing any damn thing just because you can't stand inactivity.
Charlie Munger
It's natural that you'd have more brains going into money management. There are so many huge incomes in money management and investment banking - it's like ants to sugar. There are huge incentives for a man to take up money management as opposed to, say, physics, and it's a lot easier.
Charlie Munger
Anytime anybody offers you anything with a big commission and a 200-page prospectus, don't buy it. Occasionally, you'll be wrong if you adopt Munger's Rule. However, over a lifetime, you'll be a long way ahead - and you will miss a lot of unhappy experiences.
Charlie Munger
In the 1930s, there was a stretch where you could borrow more against the real estate than you could sell it for. I think that's what's going on in today's private-equity world.
Charlie Munger
See's candy company was the first high-quality business we ever bought.
Charlie Munger
Almost all good businesses engage in 'pain today, gain tomorrow' activities.
Charlie Munger
In fact I've probably never seen such a wide moat.
Charlie Munger
