Charlie Munger is a renowned American businessman and investor who has been the Vice Chairman of Berkshire Hathaway since 1978. Born in Omaha, Nebraska in 1924, Munger attended the University of Michigan where he earned his Bachelor's degree in mathematics and later a law degree from Harvard University. Before we get into our Charlie Munger quotes, let's find out a little more.
Munger started his career as a lawyer but quickly transitioned into the investment industry where he co-founded an investment partnership in the early 1960s. He also served on the board of directors of multiple companies and was involved in the real estate industry.
Munger is best known for his long-standing partnership with Warren Buffett, the Chairman and CEO of Berkshire Hathaway. The two first met in 1959, and their partnership began in 1978 when Munger joined Berkshire Hathaway as Vice Chairman. Together, they have grown Berkshire Hathaway into a massive conglomerate that owns many well-known companies, such as Geico, Coca-Cola, and Dairy Queen.
20 Charlie Munger Quotes
"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."
"We all are learning, modifying, or destroying ideas all the time. Rapid destruction of your ideas when the time is right is one of the most valuable qualities you can acquire. You must force yourself to consider opposing arguments. Especially when they challenge your best-loved ideas."
"Spend less than you make; always be saving something. Put it into a tax-deferred account. Over time, it will begin to amount to something. This is such a no-brainer."
"The best thing a human being can do is to help another human being know more."
"If you're not a little confused by what's going on, you're not paying attention."
"We try more to profit from always remembering the obvious than from grasping the esoteric. It is remarkable how much long-term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very intelligent."
"I think part of the popularity of Berkshire Hathaway is that we look like people who have found a trick. It's not brilliance. It's just avoiding stupidity."
"The best thing you can do is figure out where you're going and get there. And the worst thing you can do is fool yourself into thinking you've got it figured out because most of the time you haven't."
"We have a passion for keeping things simple."
Charlie Munger Quotes continued…
"You must force yourself to consider opposing arguments. Especially when they challenge your best-loved ideas."
"The best thing is to learn from other people’s mistakes. Don’t learn from your own mistakes. It’s too painful."
"The best thing a wise man can do is to have few regrets."
"I constantly see people rise in life who are not the smartest, sometimes not even the most diligent, but they are learning machines. They go to bed every night a little wiser than they were when they got up and boy does that help, particularly when you have a long run ahead of you."
"The best armor of old age is a well-spent life preceding it."
"It’s waiting that helps you as an investor, and a lot of people just can’t stand to wait. If you didn’t get the deferred-gratification gene, you’ve got to work very hard to overcome that."
"We’re looking for a fair advantage where we have a very large advantage that we can understand, and then we don’t worry about the other guys too much."
"To the man with only a hammer, every problem looks like a nail."
"The iron rule of nature is: you get what you reward for. If you want ants to come, you put sugar on the floor."
"I think part of the popularity of Berkshire Hathaway is that we look like people who have found a trick. It's not brilliance. It's just avoiding stupidity."
"Spend less than you make; always be saving something. Put it into a tax-deferred account. Over time, it will begin to amount to something. This is such a no-brainer."
Charlie Munger Quotes – Summarized
People widely regard Munger as one of the most successful investors and businessmen of all time, recognizing him for his keen analytical mind, his ability to see things from multiple perspectives, and his willingness to constantly learn and adapt. He is also a well-known philanthropist, having donated millions of dollars to various charities and organizations throughout his career.
Munger is famous for his witty and insightful comments on business, investing, and life in general. He is known for his plain-spoken and often blunt style, and his ability to cut through complex issues and get to the heart of the matter.
His thoughts on investing, business strategy, and life in general are widely read and studied by investors and businesspeople around the world. We hope these Charlie Munger quotes will help you on your way to becoming a smarter, more profitable investor.
