1924 - 2023
Charlie Munger is an American businessman, investor, and philanthropist known for being the Vice Chairman of Berkshire Hathaway, a multinational conglomerate holding company run by Warren Buffett. Munger is recognized for his investment prowess, his sharp wit, and his contributions to the field of value investing.
Recognize reality even when you don't like it—especially when you don't like it.
I can’t think of a single example in my whole life where ‘keeping it simple’ worked against us.
If all you needed to do is to figure out what company is better than others, everyone would make a lot of money. But that is not the case. They keep raising the prices to the point when the odds change.
I never allow myself to have an opinion on anything unless I know the other side's argument better than they do.
Never underestimate the man who overestimates himself.
The point of getting rich is so you don’t have to work with people you don’t like or get along with people you don’t want to.
You only have to get rich once. You don’t have to climb this mountain four times. You just have to do it once.
In my whole life, I have known no wise people (over a broad subject matter area) who didn’t read all the time – none, zero.
It is remarkable how much long-term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very intelligent.
If I can be optimistic at 99, almost dead, surely the rest of you can handle a little inflation.
The first rule of a happy life is low expectations. That’s one you can easily arrange. And if you have unrealistic expectations, you’re going to be miserable all your life.
The iron rule of nature is: you get what you reward for. If you want ants to come, you put sugar on the floor.
The best thing a human being can do is help another human being know more.
Whenever you think that some situation or some person is ruining your life, it is actually you who are ruining your life. Feeling like a victim is a perfectly disastrous way to go through life.