And he will also suffer from the psychological defect caught by the proverb “To a man with a hammer, every problem looks like a nail.” The fifth help… - Charlie Munger

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And he will also suffer from the psychological defect caught by the proverb “To a man with a hammer, every problem looks like a nail.” The fifth helpful notion is that really big effects, lollapalooza effects, will often come only from large combinations of factors.

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About Charlie Munger

Charles Thomas Munger (January 1, 1924 – November 28, 2023) was Vice-Chairman of Berkshire Hathaway Corporation, the diversified investment corporation chaired by investor Warren Buffett.

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Also Known As

Native Name: Charles Thomas Munger
Alternative Names: Charlie Thomas Munger Charles T. Munger
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Additional quotes by Charlie Munger

Spend each day trying to be a little wiser than you were when you woke up. Discharge your duties faithfully and well. Step by step you get ahead, but not necessarily in fast spurts. But you build discipline by preparing for fast spurts.... Slug it out one inch at a time, day by day. At the end of the day–if you live long enough–most people get what they deserve.

limited partnerships that do some combination of the following: unleveraged investment in high-tech corporations in their infancy; leveraged investments in corporate buyouts; leveraged relative value trades in equities; and leveraged convergence trades and other exotic trades in all kinds of securities and derivatives.

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Never allow oneself to have an opinion on anything when you don't know the other side's arguments better than they do.

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