Almost all good businesses engage in 'pain today, gain tomorrow' activities.
--Charlie Munger
Capitalism is a pretty brutal place.
--Charlie Munger
Envy is a really stupid sin because it's the only one you could never possibly have any fun at. There's a lot of pain and no fun. Why would you want to get on that trolley?
--Charlie Munger
Everybody engaged in complex work needs colleagues. Just the discipline of having to put your thoughts in order with somebody else is a very useful thing.
--Charlie Munger
How do you compete against a true fanatic? You can only try to build the best possible moat and continuously attempt to widen it.
--Charlie Munger
How you behave in one place, will help in surprising ways later.
--Charlie Munger
Hundreds and thousands of engineers, etc. are going into hedge funds and investment banking. That is not an intelligent allocation of the brainpower of the civilization.
--Charlie Munger
I regard it as very unfair, but capitalism without failure is like religion without hell.
--Charlie Munger
I'm not entitled to have an opinion unless I can state the arguments against my position better than the people who are in opposition. I think that I am qualified to speak only when I've reached that state.
--Charlie Munger
If you rise in life, you have to behave in a certain way. You can go to a strip club if you're a beer-swilling sand shoveler, but if you're the Bishop of Boston, you shouldn't go.
--Charlie Munger
If you want accurate numbers from financial companies, you're in the wrong world.
--Charlie Munger
It's a rare business that doesn't have a way worse future than it has a past.
--Charlie Munger
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.
--Charlie Munger
Let me know what your problem is, and I will try to make it more difficult for you.
--Charlie Munger
One of the great defenses if you're worried about inflation is not to have a lot of silly needs in your life- you don't need a lot of material goods.
--Charlie Munger
Opportunity comes to the prepared mind.
--Charlie Munger
Show me the incentive and I will show you the outcome.
--Charlie Munger
Smart people aren't exempt from professional disasters from overconfidence. Often, they just run aground in the more difficult voyages they choose, relying on their self-appraisals that they have superior talents and methods.
--Charlie Munger
Someone will always be getting richer faster than you. This is not a tragedy.
--Charlie Munger
The average result has to be the average result.
--Charlie Munger
The iron rule of life is that only 20 percent of the people can be in the top fifth. That's just the way it is.
--Charlie Munger
Those who keep learning, will keep rising in life.
--Charlie Munger
We don't like trading agony for money.
--Charlie Munger
Why should it be easy to do something that, if done well, two or three times, will make your family rich for life?
--Charlie Munger
You do not want to drift into self-pity. ... Self-pity will not improve the situation.
--Charlie Munger
Found 25 occurence(s) in 52,075 quotation(s).