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Charlie Munger
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There's danger in just shoveling out money to people who say, 'My life is a little harder than it used to be.' At a certain place you've got to say to the people, 'Suck it in and cope, buddy. Suck it in and cope.'
- Charlie Munger
#Life Is A
#Life
#Money
#My Life
#People
I'm proud to be associated with the value system at Berkshire Hathaway; I think you'll make more money in the end with good ethics than bad.
- Charlie Munger
#Bad
#Ethics
#Good
#Money
#Value
I regard the bitcoin craze as totally asinine to create some manufactured currency.
- Charlie Munger
#Bitcoin
#Create
#Currency
#Regard
#Some
If you can get really good at destroying your own wrong ideas, that is a great gift.
- Charlie Munger
#Gift
#Good
#Great
#Ideas
#Own
It's a real pleasure to earn the trust of your customers slowly over time by doing what's right.
- Charlie Munger
#Doing
#Pleasure
#Real
#Time
#Trust
I've got some advice for the young: If you've got anything you really want to do, don't wait until you're 93.
- Charlie Munger
#Advice
#Anything
#Wait
#Want
#Young
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.
- Charlie Munger
#Business
#Judgement
#Made
#Matter
#Truth
You need a different checklist and different mental models for different companies.
- Charlie Munger
#Companies
#Different
#Mental
#Need
#You
Wall Street has too much wealth and political power.
- Charlie Munger
#Finance
#Much
#Political
#Power
#Wealth
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.
- Charlie Munger
#I Am
#People
#Smart
#Think
#Trying
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.
- Charlie Munger
#Buy
#Family
#Gold
#Great
#People
Look at this generation, with all of its electronic devices and multitasking. I will confidently predict less success than Warren, who just focused on reading.
- Charlie Munger
#Generation
#Look
#Predict
#Success
#Will
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.
- Charlie Munger
#Fool
#Man
#Reality
#Time
#Understand
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.
- Charlie Munger
#Believe
#Better
#Foundation
#Good
#Place
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.
- Charlie Munger
#Bad
#Best
#Together
#Way
#Yourself
I will say this: I know no wise person who doesn't read a lot. I suspect that you can read on the computer now and get a lot of benefit out of it, but I doubt that it'll work as well as reading print worked for me.
- Charlie Munger
#Me
#Person
#Will
#Wise
#Work
The first rule is that you can't really know anything if you just remember isolated facts and try and bang 'em back. If the facts don't hang together on a latticework of theory, you don't have them in a usable form.
- Charlie Munger
#Back
#Facts
#Know
#Remember
#Together
Who would want one's children growing up buying things like bitcoin? I hope to God my family doesn't buy it. It's noxious poison.
- Charlie Munger
#Bitcoin
#Children
#Family
#God
#Hope
I think people who multitask pay a huge price. They think they're being extra productive, and I think when you multitask so much you don't have time to think about anything deeply, you are giving the world an advantage you shouldn't do, and practically everybody is drifting into that mistake.
- Charlie Munger
#Mistake
#People
#Price
#Time
#World
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.
- Charlie Munger
#Bitcoin
#Gold
#Man
#Me
#Value
It's 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.
- Charlie Munger
#Intelligent
#People
#Stupid
#Trying
#Us
I'm used to people with very high IQs knowing how to recognize reality, but there's a huge human tendency where it may be instructive to think that whatever you're doing to succeed is all right.
- Charlie Munger
#Doing
#High
#Human
#People
#Reality
A great business at a fair price is superior to a fair business at a great price.
- Charlie Munger
#Business
#Fair
#Great
#Price
#Superior
There's more honor in investment management than in investment banking.
- Charlie Munger
#Finance
#Honor
#Investment
#Management
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