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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

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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
Anyone
Accounts
Doesn
Master
Reality
Plan
Wanted
Masters
Never
Plans
Life
Taking
Fired
People
Information
Cover
Takes
Account

More quotes by Charlie Munger

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...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
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If the value of a company doesn't just scream out at you, it's too close.
Charlie Munger
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While no real money came down, my family gave me a good education and a marvelous example of how people should behave, and in the end that was more valuable than money. Being surrounded by the right values from the beginning is an immense treasure. Warrenhad that. It even has a financial advantage.
Charlie Munger
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They [Mc Donalds] take people and give them a first job, which enables them to get a second job. They do a very good job of educating troubled young people to be good citizens and they're probably more successful than charter schools.
Charlie Munger
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The first chance you have to avoid a loss from a foolish loan is by refusing to make it there is no second chance.
Charlie Munger
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Forgetting your mistakes is a terrible error if you are trying to improve your cognition.
Charlie Munger
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In my life there are not that many questions I can't properly deal with using my $40 adding machine and dog-eared compound interest table.
Charlie Munger
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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
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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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It's not the bad ideas that do you in, but the good ones.
Charlie Munger
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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
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Three rules for a career: 1) Don’t sell anything you wouldn’t buy yourself 2) Don’t work for anyone you don’t respect and admire and 3) Work only with people you enjoy.
Charlie Munger
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Berkshire has the lowest turnover of any major company in the U.S.The Walton family owns more of Wal-Mart than Buffett owns of Berkshire, so it isn't because of large holdings. It's because we have a really unusual shareholder body that thinks of itself as owners and not holders of little pieces of paper.
Charlie Munger
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Ben Franklin and Samuel Johnson, he credits their wisdom for his success. They were both utterly brilliant men. And powerful communicators. Both have helped me all the way through life. Their lessons are easy to assimilate.
Charlie Munger
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You have to realize the truth of biologist Julian Huxley's idea that 'Life is just one damn relatedness after another' So you must have the models, and you must see the relatedness and the effects from the relatedness.
Charlie Munger
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I'm not entitled to have an opinion unless I can state the arguments against my position better than the people who are in opposition. I think that I am qualified to speak only when I've reached that state.
Charlie Munger
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We don't claim to have perfect morals, but at least we have a huge area of things that, while legal, are beneath us. We won't do them. Currently, there's a culture in Americathat says that anything that won't send you to prison is OK.
Charlie Munger
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It's been my experience in life if you just keep thinking and reading, you don't have to work.
Charlie Munger
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It's human nature to extrapolate the recent past into the future, but it's terrible that managements go along with this.
Charlie Munger
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Intense interest in any subject is indispensable if you're really going to excel in it.
Charlie Munger