You can't give the average Wall Street CEO really lenient s… - Charlie Munger

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You can't give the average Wall Street CEO really lenient standards of accounting and expect the figures to be good. The accountant is like the referee in soccer. The accountant has to be the adult that prevents the mayhem. Accountants don't want to be the adults because it causes liability, it causes responsibility, it causes difficulty ... they failed us terribly.

Charlie Munger

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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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Native Name: Charles Thomas Munger

Alternative Names: Charlie Thomas Munger • Charles T. Munger

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No man’s life should be accounted a happy one until it is over.

Instead, you must do your multidisciplinary thinking in accord with Ben Franklin’s prescription in Poor Richard:52 “If you want it done, go. If not, send.

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

You can't give the average Wall Street CEO really lenient standards of accounting and expect the figures to be good. The accountant is like the refer… - Charlie Munger

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