Quote

My idea of a good place to shop is Costco - it has these heavily marbled fillet steaks. The idea of eating some wheat thing and washing it down with carrot juice has never appealed to me.

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
Eating
Carrots
Idea
Steak
Place
Heavily
Ideas
Wheat
Thing
Washing
Fillet
Good
Juice
Steaks
Never
Shop
Carrot
Shops
Appealed

More quotes by Charlie Munger

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It's a good habit to trumpet your failures and be quiet about your successes.
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I did not succeed in life by intelligence. I succeeded because I have a long attention span.
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A rough rule in life is that an organization foolish in one way in dealing with a complex system is all too likely to be foolish in another.
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The beauty of a financial institution is that there are a lot of ways to go to hell in a bucket. You can push credit too far, do a dumb acquisition, leverage yourself excessively - it's not just derivatives [that can bring about your downfall].
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People always underestimate the ability of earth to increase its carrying capacity.
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I think corporate managers should learn to be better investors because it would make them better managers.
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I think it would be a great improvement if there were no D&O insurance . The counter-argument is that no-one with any money would serve on a board. But I think net net you'd be better off.
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there are all kinds of wonderful new inventions that give you nothing as owners except the opportunity to spend a lot more money in a business that's still going to be lousy. The money still won't come to you. All of the advantages from great improvements are going to flow through to the customers.
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I like people admitting they were complete stupid horses' asses. I know I'll perform better if I rub my nose in my mistakes. This is a wonderful trick to learn.
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Hard work, honesty, if you keep at it, will get you almost anything.
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There are two kinds of businesses: The first earns 12%, and you can take it out at the end of the year. The second earns 12%, but all the excess cash must be reinvested - there's never any cash. It reminds me of the guy who looks at all of his equipment and says, 'There's all of my profit.' We hate that kind of business.
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We try more to profit from always remembering the obvious than from grasping the esoteric.
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This is a good life lesson: getting the right people into your system is the most important thing you can do.
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I've been associated with Warren ( Buffett) so long, I thought I'd be just a footnote.
Charlie Munger
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We have a high moral responsibility to be rational
Charlie Munger
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Develop into a lifelong self-learner through voracious reading cultivate curiosity and strive to become a little wiser every day.
Charlie Munger
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A lot of opportunities in life tend to last a short while, due to some temporary inefficiency... For each of us, really good investment opportunities aren't going to come along too often and won't last too long, so you've got to be ready to act and have a prepared mind.
Charlie Munger
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Show me the incentive and I will show you the outcome
Charlie Munger
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Intelligent people make decisions based on opportunity costs.
Charlie Munger
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I see almost no change in the price of the composite product that flows through Costco I don't feel sorry for the people who pay $27 million for an 8,000-square-foot condo in Manhattan. So inflation comes in places.
Charlie Munger