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If we've been a little more successful than other people, is because we always realised that the school of life was always open, and if you were not learning more you are falling behind.

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
Little
Behinds
Always
Behind
Life
Learning
People
Open
Successful
Fall
School
Realised
Littles
Falling

More quotes by Charlie Munger

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For many of our shareholders, our stock is all they own, and we're acutely aware of that. Our culture [of conservatism] runs pretty deep.
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...being an effective teacher is a high calling.
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If mutual fund directors are independent, then I'm the lead character in the Bolshoi Ballet.
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If you get into the mental habit of relating what you're reading to the basic structure of the underlying ideas being demonstrated, you gradually accumulate some wisdom.
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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.
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The game of life is the game of everlasting learning. At least it is if you want to win.
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Our job is to find a few intelligent things to do, not to keep up with every damn thing in the world.
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Our biggest mistakes, were things we didn't do, companies we didn't buy.
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Develop into a lifelong self-learner through voracious reading cultivate curiosity and strive to become a little wiser every day.
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Forgetting your mistakes is a terrible error if you are trying to improve your cognition.
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Well in the history of the See's Candy Company they always say, I never did it before, and I'm never going to do it again. And we cashier them. It would be evil not to, because terrible behavior spreads.
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You must value the business in order to value the stock.
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Spend each day trying to be a little wiser than you were when you woke up.
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The world of derivatives is full of holes that very few people are really aware of. It's like hydrogen and oxygen sitting on the corner waiting for a little flame.
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Well the open-outcry auction is just made to turn the brain into mush: you've got social proof, the other guy is bidding, you get reciprocation tendency, you get deprival super-reaction syndrome, the thing is going away... I mean it just absolutely is designed to manipulate people into idiotic behavior.
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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.
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Move only when you have an advantage. It's very basic. You have to understand the odds and have the discipline to bet only when the odds are in your favor.
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A lot of opportunities in life tend to last a short while, due to some temporary inefficiency... For each of us, really good investment opportunities aren't going to come along too often and won't last too long, so you've got to be ready to act and have a prepared mind.
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Understanding how to be a good investor makes you a better business manager and vice versa.
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To say accounting for derivatives is Americais a sewer is an insult to sewage.
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