Charlie Munger Quotes
-
If you're glued together right and honorable, you will succeed. Get in there and get rid of stupidities and avoid bad people. Try teaching that to your grandchildren. The best way is by example. Fix yourself.
-
Most people don't grab the right ideas or don't know what to do with them.
-
People are trying to be smart - all I am trying to do is not to be idiotic, but it's harder than most people think.
-
I believe Costco does more for civilization than the Rockefeller Foundation. I think it's a better place. You get a bunch of very intelligent people sitting around trying to do good, I immediately get kind of suspicious and squirm in my seat.
-
That's the last thing on Earth you should think about... There's just a whole lot of things that aren't going to work for you. Figure out what they are and avoid them like the plague. And one of them is bitcoin... It is total insanity.
-
Wells Fargo had a glitch - the truth of the matter is they made a business judgement that was wrong. I don't think anything is fundamentally wrong.
-
A banker who is allowed to borrow money at X and loan it out at X plus Y will just go crazy and do too much of it if the civilization doesn't have rules that prevent it.
-
Everyone has the idea of owning good companies. The problem is that they have high prices in relations to assets and earnings, and that takes all of the fun out of the game.
-
Gold is a great thing to sew into your garments if you're a Jewish family in Vienna in 1939, but I think civilized people don't buy gold, they invest in productive businesses.
-
It's a real pleasure to earn the trust of your customers slowly over time by doing what's right.
-
Alternatives to gold and currency and to make a big speculative vehicle - I never considered for one second having anything to do with it. I detested it the minute it had been raised.
-
It is one thing to think gold has some marvelous store of value because man has no way of inventing more gold or getting it very easily, so it has the advantage of rarity. Believe me, man is capable of somehow creating more bitcoin... They tell you there are rules and they can't do it. Don't believe them.
-
There's more honor in investment management than in investment banking.
-
I think time and time again, in reality, psychological notions and economic notions interplay, and the man who doesn't understand both is a damned fool.