Quote

If you can buy the best companies, over time the pricing takes care of itself.

Charlie Munger

Change background

T
T
T

Change font

TAGS & TOPICS

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
Time
Pricing
Companies
Takes
Company
Care
Best

More quotes by Charlie Munger

Image
It's not supposed to be easy. Anyone who finds it easy is stupid.
Charlie Munger
Image
Once you start doing something bad, then it's easy to take the next step - and in the end, you're a moral sewer.
Charlie Munger
Image
Never, ever, think about something else when you should be thinking about the power of incentives.
Charlie Munger
Image
We bought a doomed textile mill [Berkshire Hathaway] and a California S&L [Savings & Loan Wesco] just before a calamity. Both were bought at a discount to liquidation value.
Charlie Munger
Image
Warren is one of the best learning machines on this earth. The turtles who outrun the hares are learning machines. If you stop learning in this world, the world rushes right by you.
Charlie Munger
Image
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
Image
To say accounting for derivatives is Americais a sewer is an insult to sewage.
Charlie Munger
Image
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
Image
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
Image
I think track records are very important. If you start early trying to have a perfect one in some simple thing like honesty, you're well on your way to success in this world.
Charlie Munger
Image
When you borrow a man's car, always return it with a tank of gas.
Charlie Munger
Image
If only I had the influence with my wife and children that I have in some other quarters!
Charlie Munger
Image
I have a black belt in chutzpah. I was born with it. Some people, like some of the women I know, have a black belt in spending. They were born with that. But what they gave me was a black belt in chutzpah.
Charlie Munger
Image
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
Image
We both (Charlie Munger and Warren Buffett) insist on a lot of time being available almost every day to just sit and think. That is very uncommon in American business. We read and think.
Charlie Munger
Image
It is an unfortunate fact that great and foolish excess can come into prices of common stocks in the aggregate. They are valued partly like bonds, based on roughly rational projections of use value in producing future cash. But they are also valued partly like Rembrandt paintings, purchased mostly because their prices have gone up, so far.
Charlie Munger
Image
You're not going to get very far in life based on what you already know. You're going to advance in life by what you're going to learn after you leave here.
Charlie Munger
Image
This is a good life lesson: getting the right people into your system is the most important thing you can do.
Charlie Munger
Image
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
Image
Don't do cocaine. Don't race trains. And avoid AIDS situations.
Charlie Munger