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Charlie Munger Quotes

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Quote Authors

Benjamin Graham, Bernard Baruch, Charles Ellis, Charlie Munger, Chuck Akre, Daniel Kahneman, David Abrams, Dean Williams, Edward Thorp, Edwin Lefevre, Fred Schwed Jr, Henry Singleton, Hetty Green, Howard Marks, Joel Greenblatt, John Bogle, John Kenneth Galbraith, John Maynard Keynes, John Stuart Mill, John Templeton, Meir Statman, Myron Scholes, Peter Bernstein, Peter Lynch, Philip Carret, Philip Fisher, Richard Thaler, Robert Shiller, Seth Klarman, Stanley Druckenmiller, Walter Schloss, Warren Buffett,

“
Beating the market averages, after paying substantial costs and fees, is an against-the-odds game; yet a few people can do it, particularly those who view it as a game full of craziness with an occasional mispriced something or other.
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Charlie Munger
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Understanding both the power of compound return and the difficulty getting it is the heart and soul of understanding a lot of things.
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Charlie Munger
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Crooks, crazies, egomaniacs, people full of resentment, people full of self-pity, people who feel like victims, there's a lot of things that aren't going to work for you. Figure out what they are and then avoid them like the plague.
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Charlie Munger
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A friend of mine says a good day when you're old is when you wake up in the morning and nothing new hurts.
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Charlie Munger
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I think it's part of a life lived right that you learn how to make some lemonade out of your lemons.
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Charlie Munger
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Warren and I are chicken about buying stocks on margin. There's always a slight chance of catastrophe when you own securities pledged to others. The ideal is to borrow in a way no temporary thing can disturb you.
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Charlie Munger
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If you totally divorce economics from psychology, you've gone a long way toward divorcing it from reality.
”

Charlie Munger
Source: link

“
Understanding both the power of compound return and the difficulty getting it is the heart and soul of understanding a lot of things.
”

Charlie Munger
Source: link

“
Beating the market averages, after paying substantial costs and fees, is an against-the-odds game; yet a few people can do it, particularly those who view it as a game full of craziness with an occasional mispriced something or other.
”

Charlie Munger
Source: link

“
Perhaps the most important rule in management is "Get the incentives right."
”

Charlie Munger
Source: link

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The whole trick in life is to get so that your own brain doesn't mislead you.
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Charlie Munger
Source: link

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If you’re going to be in this game for the long pull, which is the way to do it, you better be able to handle a 50% decline without fussing too much about it.
”

Charlie Munger
Source: link

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If you're capable of being reasonable, it's a moral failure to be unreasonable when you have a capacity to be reasonable.
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Charlie Munger
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My definition of being properly educated is being right, when the professor is wrong.
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Charlie Munger
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The whole trick of the game is to have a few times when you know that something is better than average and invest only where you have that extra knowledge.
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Charlie Munger
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Never underestimate the man who overestimates himself. These weird guys who overestimate themselves occasionally knock it right out of the park.
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Charlie Munger
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Modern life creates successful bureaucracy and successful bureaucracy breeds failure and stupidity.
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Charlie Munger
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My system in life is to figure out what's really stupid and then avoid it. It doesn't make me popular, but it prevents a lot of trouble.
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Charlie Munger
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The great lesson in microeconomics is to discriminate between when technology is going to help you and when it’s going to kill you.
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Charlie Munger
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It’s not given to human beings to have such talent that they can just know everything about everything all the time.
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Charlie Munger
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Averaged out, betting on the quality of a business is better than betting on the quality of management. In other words, if you have to choose one, bet on the business momentum, not the brilliance of the manager.
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Charlie Munger
Source: link

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There are huge advantages for an individual to get into a position where you make a few great investments and just sit back. You're paying less to brokers. You're listening to less nonsense.
”

Charlie Munger
Source: link

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