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
Best
Time
Pricing
Companies
Takes
Company
Care

More quotes by Charlie Munger

Image
There are worse situations than drowning in cash and sitting, sitting, sitting. I remember when I wasn’t awash in cash — and I don’t want to go back.
Charlie Munger
Image
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
Image
I don't spend much time regretting the past, once I've taken my lesson from it. I don't dwell on it.
Charlie Munger
Image
It took us months of buying all the Coke stock we could to accumulate $1 billion worth - equal to 7% of the company. It's very hard to accumulate major positions.
Charlie Munger
Image
Failure to handle psychological denial is a common way for people to go broke: you have made an enormous commitment to something. You have poured effort and money in. And the more you put in, the more that the whole consistency principle makes you think, Now it has to work. If I put in just a little more, then it will work.
Charlie Munger
Image
A lot of our respected financial institutions are just casinos in drag.
Charlie Munger
Image
Opportunity cost is a huge filter in life. If you've got two suitors who are really eager to have you and one is way the hell better than the other, you do not have to spend much time with the other. And that's the way we filter out buying opportunities.
Charlie Munger
Image
Over many decades, our usual practice is that if something we like goes down, we buy more and more. Sometimes something happens, you realize you’re wrong, and you get out. But if you develop correct confidence in your judgment, buy more and take advantage of stock prices.
Charlie Munger
Image
A director who gets $150,000 per year from a company and needs the money is not independent.
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
I think the idea that the hedge fund manager gets lower taxes than the taxi driver or the physics professor is insane. The legislators who leave that policy in place are derelict in their duties to be rational and fair. There are plenty of them in both political parties. It's totally outrageous.
Charlie Munger
Image
If you have competence, you pretty much know its boundaries already. To ask the question (of whether you are past the boundary) is to answer it.
Charlie Munger
Image
We don't like trading agony for money
Charlie Munger
Image
Investing is where you find a few great companies and then sit on your ass.
Charlie Munger
Image
It's a good habit to trumpet your failures and be quiet about your successes.
Charlie Munger
Image
We have found in a long life that one competitor is frequently enough to ruin a business.
Charlie Munger
Image
The investment game is getting more and more competitive.
Charlie Munger
Image
Assume life will be really tough, and then ask if you can handle it. If the answer is yes, you've won.
Charlie Munger
Image
The reason we avoid the word 'synergy' is because people generally claim more synergistic benefits than will come. Yes, it exists, but there are so many false promises.Berkshire is full of synergies - we don't avoid synergies, just claims of synergies.
Charlie Munger
Image
We may well have a competitive advantage buying decent businesses at decent prices. But they won't be fabulous businesses and fabulous prices. There's too much competition and money out there, with many buyout specialists.
Charlie Munger