Charlie Munger's 70 Best Quotes

Charles Thomas Munger is known as an American businessman, philanthropist, and investor who has carved out a firm foothold in various business, such as the chairmanship of the Daily Journal Corporation, the vice chairmanship of Berkshire Hathaway, and as a director of Costco Wholesale Corporation.

Due to his importance in the world of finance, this businessman is a reference for many people. If you are interested in knowing his philosophy of life, keep reading; Here you will find a selection of Charlie Munger's best quotes.

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Charlie Munger's most motivating phrases

To learn more about the life and secrets behind the success of this businessman, we bring you a collection of phrases and reflections by Charlie Munger.

1. The desire to get rich quick is quite dangerous.

It leads us to commit reckless and impulsive acts that end up costing more.

2. People try to be smart. All I'm trying to do is not be an idiot, but it's harder than many think.

We all run the risk of being irreversibly wrong.

3. I certainly did not invest in cryptocurrencies. I am proud of the fact that I have avoided it. It's like a venereal disease or something. I just find it negligible.

Reluctant to invest in cryptocurrencies.

4. I have a fisherman friend who says, 'I have a simple rule for success in fishing. Fish where the fish are'. You'll want to fish where the bargains are. As simple as that.

A valuable lesson that you apply to your investments.

5. It takes character to sit around with all that money and do nothing. I didn't get to where I am by chasing mediocre opportunities.

It is useless to have everything if you are going to waste what you have achieved later.

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6. Always take the high road, it is less traveled by people.

A metaphor that sometimes it is better to take risks than to stay in the comfort zone.

7. Remember that reputation and integrity are your most valuable assets, and they can be lost in a heartbeat.

It is your actions that speak for you, not what you own.

8. As long as I have a book in my hand, I don't feel like I'm wasting my time.

Showing the importance of reading all the time.

9. If people weren't wrong so often, we wouldn't be so rich.

You have to know how to take advantage of the lessons in the mistakes.

10. I paid no attention to the territorial limits of academic disciplines and just grabbed all the great ideas I could.

A recommendation not to keep what we learn in institutions, but to look outside.

11. Avoid working directly under someone you don't admire and don't want to be like.

A good work environment is necessary to be able to evolve.

12. There is only one way to the top: Hard work.

You can never get to the top without avoiding the obstacles in front of you.

13. Invest in a business that any idiot can run.

As Munger mentions many times, investing in simple businesses.

14. If you're lazy and unreliable it doesn't matter if you're good.

Not only do you have to have instinct, you have to be disciplined to get where we want to go.

15. Most newspapers are going to disappear. It's just a matter of time.

Speaking of the future that awaits newspapers, which we can actually see today.

16. It is not good to face the world in a delusional way.

You always have to have a goal in mind to pursue it.

17. Wall Street has too much wealth and political power.

A critique of the unfair dominance of Wall Street.

18. There is more honor in investment management than in investment banking.

The space where you prefer to be.

19. To get what you want, you have to deserve what you want.

You cannot pretend to achieve things for which you are not fit.

20. All I want to know is where I'm going to die so I never go there.

Fleeing from his end.

21. If you keep learning all the time, you have a great advantage.

By constantly learning, we can stay ahead of others.

22. The big money is not in the buying and selling, but in the waiting.

The only way to win in investments is knowing how to wait.

23. Those who continue to learn will continue to grow in life.

It will never happen otherwise.

24. I don't have a single achievement that I'm so proud of.

Keeping a moderate emotion in their achievements.

25. In all my life, I have not met wise people (in a broad subject area) who did not read all the time: none, zero.

Reading is what allows us to acquire new knowledge.

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26. You must force yourself to consider opposing arguments. Especially when they challenge your most cherished ideas.

Even if you think your values ​​are correct, it never hurts to listen to the point of view of others.

27. Without the learning method, you are like a one-legged man in a butt-kicking contest. It just won't work very well.

You're not going to get very far if you don't learn what you need to know in any field.

28. It is better to buy a wonderful company at a fair price than a fair company at a wonderful price.

A valuable strategy in investments.

29. Perhaps I have a generosity streak in my nature and a desire to serve values ​​that transcend my short life. But maybe I'm just here to brag. Who knows?

A sample of how he takes what they think of him, little seriously.

30. If I had to do it all over again, I think it would be much more difficult.

No one assures us that if we went back, our lives would be much better.

31. Life and its various passages can be hard, brutally hard. The three things I have found helpful in coping with your challenges are: Have low expectations. Have a sense of humor. Surround yourself with the love of friends and family.

When we are surrounded by positive things and people, we face life with greater enthusiasm.

31. I did not succeed in life by intelligence. I was successful because I have a long attention span.

His arrival to success is not by chance, it is a path of lessons learned.

32. Intense interest in any subject is a must if you're really going to excel at it.

You can't master something you're not passionate about.

33. You need to have a passionate interest in why things happen. That mentality, maintained for long periods, gradually improves your ability to focus on reality.

The reality is not in a single thing, but in everything that surrounds us.

34. Most of life's mistakes are caused by forgetting what one is really trying to do.

When we deviate from what we want, we build our slide towards failure.

35. People underestimate the importance of a few simple good ideas. The lesson is that a few good simple ideas really do work.

Many think that simple ideas are an anticipated failure, when they may be the best bet.

36. The big consumer brands are still very valuable, but they had an easier time in an earlier era than they will in the future.

About the future that awaits big companies if they don't change.

37. There is no single formula. You need to know a lot about business and human nature and numbers...

Everyone has their way of growing in the business world.

38. Knowing what you don't know is more useful than being brilliant.

Recognizing what we lack guides us to seek growth.

39. Live within your income and save so you can invest. Learn what you need to learn.

The ideal way of life for all those who want to invest.

40. If you want to end up being wise, it is very likely that a strong ideology prevents that result.

Nobody with a closed mind can achieve a state of wisdom.

41. Don't hold too much envy or resentment, don't overspend your income, stay cheerful despite your problems, deal with trustworthy people and do what you're supposed to do. All these simple rules work very well to improve your life.

Little tips that make life easier and more bearable.

42. I am passionate about wisdom. I am passionate about precision and some types of curiosity.

And it is that passion that keeps him active.

43. I could force myself to be pretty good at a lot of things, but I couldn't excel at anything I didn't have an intense interest in.

It's more possible to achieve success by doing something we love, rather than going for something we don't relate to.

44. Above all, live with change and adapt to it.

The changes offer us a new opportunity that we should not waste to experience.

45. Someone will always get richer faster than you, this is not a tragedy.

Wherever you are, there will be someone more successful, from whom we can learn a lot instead of envying them.

46. I am all for Artificial Intelligence as there is such a dearth of the real thing.

His thoughts on artificial intelligence.

47. The secret of happiness? Lower expectations.

Many of our disappointments are unrealistic expectations that we can never meet.

48. I constantly see people emerge in life who are not the smartest, sometimes not even the most diligent, but they are learning machines.

You don't need to be a scholar to get far, you just have to have perseverance and preparation.

49. This habit of spending much more time learning and thinking than doing is not an accident.

Sometimes we need to take enough time to acquire the necessary knowledge about something, than to venture into immediate action.

50. My children laugh at me. They think I'm a book with a pair of legs sticking out.

There is never too much knowledge to know.

51. I set out to have more common sense than most, and I'm glad I did as well as I did.

A firm decision can change the course of our lives.

52. People calculate too much and think too little.

Referring to the little analysis we do before our actions.

53. You don't have to be brilliant, just a little wiser than everyone else, on average, for a long, long time.

Learning is worth more than having a 'natural talent'.

54. Those who continue to learn will continue to grow in life.

Learning is what leads us to improve.

55. That world is still not a crazy enough place to reward a lot of people.

You just can't be successful if you don't work for it.

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56. I am proud to be associated with the value system at Berkshire Hathaway, I believe you will make more money in the end with good ethics than bad.

Being comfortable with the values ​​of your company.

57. In a competitive world, it is very difficult to obtain great advantages only by buying securities.

You have to remember that the business world can be very greedy and unfair.

58. Keep it simple.

The most repeated advice when investing.

59. It's crazy for an expert to have wide diversification.

It is better to concentrate on a few things that can be done well than to take too much and leave it for nothing.

60. Do what you like but where you are also good.

A reminder that our dreams must also be realistic.

61. Like Warren, I had a considerable passion to get rich, not because I wanted Ferraris, I wanted independence. He desperately wanted her.

Everyone has their own reasons for being successful.

62. Remember that reputation and integrity are your most valuable assets and can be lost in an instant.

There is no point in having everything if you are a detestable person.

63. You must value the business in order to value the stock.

Stocks are the most valuable within companies.

64. I believe in the discipline of mastering the best that other people have discovered. I don't believe in sitting down and trying to dream it all up yourself. Nobody is that smart.

Use the previous teachings of those who were before you, to seek to make your dream come true.

65. Take a simple idea and take it seriously.

Simple ideas are the best developed.

66. The best thing a human being can do is to help another human being to know more.

Knowledge must be shared, not sequestered for one person.

67. Understanding both the power of compound interest and the difficulty of achieving it is the heart and soul of understanding many things.

Nothing is easy, but if it is possible to achieve it in the future and it has good results, then fight for it.

68. If the fishing is really bad where you are, you should probably find another place to fish.

Wise advice for any aspect of life.

69. We already have a digital currency, it's called a bank account.

Holding on to the traditional mode of money, instead of cryptocurrencies.

70. Reverse sitting. You will pay brokers less, you will listen to less nonsense and, if it works, the tax system gives you one, two or three percentage points a year.

In the world of investments, perseverance and patience are better than looking for all the 'gurus' of finance.