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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.

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
Paper
Pieces
Wealth
Rich
Shrewd
Getting
Accumulation
Littles
Failed
Little
Buying
Life
Succeed

More quotes by Charlie Munger

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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.
Charlie Munger
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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.
Charlie Munger
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It's not a competency if you don't know the edge of it.
Charlie Munger
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It's a finite and very competitive world. All large aggregations of capital eventually find it hell on earth to grow and thus find a lower rate of return.
Charlie Munger
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Missing out on some opportunity never bothers us. What's wrong with someone getting a little richer than you? It's crazy to worry about this.
Charlie Munger
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If only I had the influence with my wife and children that I have in some other quarters!
Charlie Munger
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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
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Go to bed smarter than when you woke up.
Charlie Munger
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You must have the confidence to override people with more credentials than you whose cognition is impaired by incentive-caused bias or some similar psychological force that is obviously present. But there are also cases where you have to recognize that you have no wisdom to add - and that your best course is to trust some expert.
Charlie Munger
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Mimicking the herd invites regression to the mean.
Charlie Munger
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Just keep your head down and do your best.
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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The name of the game is continuing to learn. Even if you're very well trained and have some natural aptitude, you still need to keep learning.
Charlie Munger
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The whole concept of dividing it up into 'value' and 'growth' strikes me as twaddle. It's convenient for a bunch of pension fund consultants to get fees prattling about and a way for one advisor to distinguish himself from another. But, to me, all intelligent investing is value investing.
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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I'm right, and you're smart, and sooner or later you'll see I'm right.
Charlie Munger
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All intelligent investing is value investing - acquiring more that you are paying for. You must value the business in order to value the stock.
Charlie Munger
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The old culture had come out of poverty, out of English customs.
Charlie Munger
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[Lawyers who file class-action securities suits] is not a group you would want to marry into your family. That said, more than half the time the people being sued by the Lerach firm are guilty of outrageous conduct. The problem is, they don't mind (suing) the other half. They are an equal opportunity litigator.
Charlie Munger
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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