Charlie Munger Quotes

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?

People calculate too much and think too little.

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 armour of old age is a well spent life perfecting it.

If something is too hard, we move on to something else. What could be simpler than that?

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.

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

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.

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.

The best armour of old age is a well spent life preceding it.

"I think that, every time you see the word EBITDA, you should substitute the words "bullshit earnings.

It's the work on your desk. Do well with what you already have and more will come in.

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.

Man’s imperfect, limited-capacity brain easily drifts into working with what’s easily available to it. And the brain can’t use what it can’t remember or when it’s blocked from recognizing because it’s heavily influenced by one or more psychological tendencies bearing strongly on it … the deep structure of the human mind requires that the way to full scope competency of virtually any kind is to learn it all to fluency — like it or not.

We have three baskets: in, out, and too tough. … We have to have a special insight, or we’ll put it in the “too tough” basket.