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Whenever you think something or some person is ruining your life, it's you. A victimization mentality is so debilitating.
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
Life
Ruining
Mentality
Whenever
Persons
Person
Something
Think
Victimization
Thinking
Debilitating
More quotes by Charlie Munger
It's human nature to extrapolate the recent past into the future, but it's terrible that managements go along with this.
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Litigation is notoriously time-consuming, inefficient, costly and unpredictable.
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If people tell you what you really don't want to hear what's unpleasant-there's an almost automatic reaction of antipathy. You have to train yourself out of it.
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The liabilities are always 100 percent good. It's the assets you have to worry about.
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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.
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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.
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The general systems of money management [today] require people to pretend to do something they can't do and like something they don't. It's a terrible way to spend your life, but it's very well paid.
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If all you succeed in doing in life is getting rich by buying little pieces of paper, it's a failed life. Life is more than being shrewd in wealth accumulation.
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Berkshireis not as good as it was in terms of percentage compounding [going forward], but it's still a hell of a business.
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I always like it when someone attractive to me agrees with me, so I have fond memories of Phil Fisher. The idea that it was hard to find good investments, so concentrate in a few, seems to me to be an obviously good idea. But 98% of the investment world doesn't think this way.
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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.
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Someone will always be getting richer faster than you. This is not a tragedy.
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How could economics not be behavioral? If it isn't behavioral, what the hell is it?
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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.
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To say accounting for derivatives is Americais a sewer is an insult to sewage.
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Remember that reputation and integrity are your most valuable assets - and can be lost in a heartbeat.
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Being short and seeing a promoter take the stock up is very irritating. It's not worth it to have that much irritation in your life.
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We want very good leaders who have a lot of power.
Charlie Munger
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
