Charles T. Munger > Quotes

“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. You'd be amazed at how much Warren reads--and at how much I read. My children laugh at me. They think I'm a book with a couple of legs sticking out.”
― Charles T. Munger, Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger

“Spend each day trying to be a little wiser than you were when you woke up. Day by day, and at the end of the day-if you live long enough-like most people, you will get out of life what you deserve.”
― Charles T. Munger, Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger

“To get what you want, you have to deserve what you want. The world is not yet a crazy enough place to reward a whole bunch of
undeserving people.”
― Charles T. Munger

“We both (Charlie Munger and Warren Buffett) insist on a lot of time being available almost every day to just sit and think. That is very uncommon in American business. We read and think.”
― Charles T. Munger

“How to find a good spouse?
-the best single way is to deserve a good spouse.”
― Charles T. Munger, Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger

“There is no better teacher than history in determining the future... There are answers worth billions of dollars in 30$ history book.”
― Charles T. Munger, Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger

“Acquire worldly wisdom and adjust your behavior accordingly. If your new behavior gives you a little temporary unpopularity with your peer group…then to hell with them.”
― Charles T. Munger, Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger

“It takes character to sit with all that cash and to do nothing.
I didn't get top where I am by going after mediocre opportunities.”
― Charles T. Munger, Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger

“We all are learning, modifying, or destroying ideas all the time. Rapid destruction of your ideas when the time is right is one of the most valuable qualities you can acquire. You must force yourself to consider arguments on the other side.”
― Charles T. Munger

“Develop into a lifelong self-learner through voracious reading; cultivate curiosity and strive to become a little wiser every day.”
― Charles T. Munger, Charlie Munger: The Complete Investor

“What are the secret of success?
-one word answer :"rational”
― Charles T. Munger, Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger

“I constantly see people rise in life who are not the smartest, sometimes not even the most diligent, but they are learning machines. They go to bed every night a little wiser than they were when they got up and boy does that help, particularly when you have a long run ahead of you.”
― Charles T. Munger

“I believe in the discipline of mastering the best that other people have ever figured out. I don’t believe in just sitting down and trying to dream it all up yourself. Nobody’s that smart.”
― Charles T. Munger, Charlie Munger: The Complete Investor

“Remember that reputation and integrity are your most valuable assets—and can be lost in a heartbeat.”
― Charles T. Munger, Charlie Munger: The Complete Investor

“People calculate too much and think too little.”
― Charles T. Munger

“Go to bed smarter than when you woke up.”
― Charlie Munger

“Envy is a really stupid sin because it’s the only one you could never possibly have any fun at. There’s a lot of pain and no fun. Why would you want to get on that trolley?”
― Charles T. Munger, Charlie Munger: The Complete Investor

“The iron rule of nature is: you get what you reward for. If you want ants to come, you put sugar on the floor.”
― Charlie Munger

“The best armour of old age is a well spent life perfecting it.”
― Charles T. Munger, Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger

“I never allow myself to hold an opinion on anything that I don't know the other side's argument better than they do”
― Charlie Munger

“If something is too hard, we move on to something else. What could be simpler than that?”
― Charles T. Munger, Charlie Munger: The Complete Investor

“If you don’t get this elementary, but mildly unnatural, mathematics of elementary probability into your repertoire, then you go through a long life like a one-legged man in an ass-kicking contest.”
― Charles T. Munger, Superforecasting: The Art and Science of Prediction

“In my whole life, I have known no wise people (over a board subject matter area) who didn't read all the time - none, zero. You'd be amazed how much Warren reads - and at how much I read. My children laugh at me. They think I'm a book with a couple of legs sticking out.”
― Charles T. Munger, Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger

“All I want to know is where I'm going to die so I'll never go there.”
― Charles T. Munger, Life Is Short And So Is This Book

“A lot of people with high IQs are terrible investors because they’ve got terrible temperaments. And that is why we say that having a certain kind of temperament is more important than brains. You need to keep raw irrational emotion under control. You need patience and discipline and an ability to take losses and adversity without going crazy. You need an ability to not be driven crazy by extreme success.”
― Charles T. Munger, Value Investing: A Value Investor's Journey Through the Unknown...

“Mimicking the herd invites regression to the mean (merely average performance).”
― Charles T. Munger, Charlie Munger: The Complete Investor

“The best armour of old age is a well spent life preceding it.”
― Charles T. Munger, Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger

“I think that, every time you see the word EBITDA, you should substitute the words "bullshit earnings.”
― Charles T. Munger, Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger

“The great algorithm to remember in dealing with this tendency is simple: an idea or a fact is not worth more merely because it’s easily available to you.”
― Charles T. Munger

“It's the work on your desk. Do well with what you already have and more will come in.”
― Charles T. Munger, Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger