Charlie Munger

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Last quote by Charlie Munger

Three rules for a career: 1) Don't sell anything you wouldn't buy yourself. 2) Don't work for anyone you don't respect and admire. 3) Work only with people you enjoy.feedback
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Aug 17 2017
Charlie Munger has been quoted 51 times. The one recent article where Charlie Munger has been quoted is How setting “anti-goals” can keep work from being miserable. Most recently, Charlie Munger was quoted as having said, “A lot of success in life and business comes from knowing what you want to avoid: early death, a bad marriage, etc.”.
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Charlie Munger quotes

Jun 27 2017

Envy and jealousy made, what, two out of the ten commandments?feedback

Jun 27 2017

That isn't because I fear the competition or anything like that – Warren has always been very open about what he's learned, and I share that ethos.feedback

Jun 27 2017 - Women

I've heard Warren say a half a dozen times, It's not greed that drives the world, but envy. [He] flew off a carrier in the North Atlantic and never came back, and his mother, who was a very sane woman, just never believed that he was dead. That's simple psychological denial. The reality is too painful to bear, so you just distort it until it's bearable. We all do that to some extent, and it's a common psychological misjudgment that causes terrible problems.feedback

Jun 23 2017

Inventories, receivables are all kinds of horrible things in business. If you just buy service companies, you can avoid them. And it's amazing how it has worked for this guy that does [leveraged buyouts] just the way it worked for Al Gore.feedback

Jun 23 2017 - Climate change

Al Gore has come into you fellas business … He has made three or four hundred million dollars in your business. And he's not very smart. He had one obsessive idea that global warming was a terrible thing … So his idea when he went into investment counseling is he was not going to put any CO2 in the air.feedback

Jun 22 2017 - Costco

I believe Costco does more for civilization than the Rockefeller Foundation.feedback

May 09 2017

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

May 08 2017

On this issue, both parties hate each other so much that neither one can think rationally, and I don't think that helps, either.feedback

May 08 2017

The amount of waste from over treatment of the dying is just disgusting. There's a lot wrong with the system.feedback

May 08 2017

I've got some advice for the young: If you've got anything you really want to do, don't wait until you're 93.feedback

May 08 2017

The amount of waste from overtreatment of the dying is just disgusting. There's a lot wrong with the system. They've got single payer medicine and we're paying it out of the company. I would police it pretty hard to keep out the fraud.feedback

May 06 2017 - Trump Presidency

We're not going to change anything at the railroad just for some little tax jiggle.feedback

May 06 2017

In retrospect, I think we were smart enough to figure out Google early, and we didn't.feedback

May 06 2017

You've got to remember railroads were a terrible business for decades and decades and decades, and then they got good.feedback

Mar 13 2017

Acknowledging what you don't know is the dawning of wisdom.feedback

Mar 10 2017

Mimicking the herd invites regression to the mean.feedback

Feb 15 2017 - Oil

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

Feb 15 2017

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

Feb 15 2017

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

Feb 15 2017

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

Feb 15 2017

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

Jan 12 2017

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

Apr 30 2016

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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