Charlie Munger

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Last quote by Charlie Munger

I have avoided all my life compensation consultants. I hardly can find the words to express my contempt. If the board hires a compensation consultant after I go, I will come back – mad.feedback
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May 09 2017
Charlie Munger has been quoted 34 times. The one recent article where Charlie Munger has been quoted is Warren Buffett hopes the next CEO of Berkshire Hathaway won't be motivated by money. Most recently, Charlie Munger was quoted as having said, “I have avoided all my life compensation consultants. I hardly can find the words to express my contempt. If the board hires a compensation consultant after I go, I will come back – mad.”.
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Charlie Munger quotes

Mimicking the herd invites regression to the mean.feedback

I wish we weren't producing all this natural gas. I'd be delighted to just have it lie there untapped for decades in the future and pay extra once Arabs use up their oil. Nobody else in America seems to feel my way, but I believe in deferred gratification. I don't think hastening to use our oil and gas is a good idea ... I don't see any advantage.feedback

The index thing is absolute agony for investment professionals … who have almost no chance of beating it. Most people handle that with denial ... I understand – I don't want to think about my own death, either. It's a huge problem, and it makes your generation of money managers have way more difficulties and causes a lot of worry and fretfulness, and I think the people who are worried and fretful are absolutely right. I would hate to manage a trillion dollars in the big stocks and try to beat the indexes. I don't think I could do it.feedback

Wells Fargo had a glitch. The truth of the matter is they made a business judgment that was wrong. They got so caught up in cross-selling and incentive systems (that) some people reacted badly and did things they shouldn't.feedback

They'll be better for it. One thing about doing something dumb is that you're unlikely to do it again.feedback

I don't think anything's fundamentally wrong in the long haul for Wells Fargo. They made a mistake. And it was an easy mistake to make. I don't regard setting incentives aggressively as a mistake. I think the mistake was, when the bad news came, they didn't recognize it directly.feedback

Warren is not interested in making money by cheating people.feedback

We ought to have a law ... where these people shouldn't be allowed to cite the defects without citing the advantage. It's immature and stupid.feedback

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