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Quote by Charlie Munger

“I call myself the assistant cult leader.”

Quote by Charlie Munger

Author

Charlie Munger, born on January 1, 1924, is a distinguished business person known for his investment philosophy and partnership with Warren Buffett at Berkshire Hathaway. He has been a significant influence in the field of finance and investing, contributing to the success of the company over the years. more

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“At Berkshire Hathaway we do not like to compete against Chinese manufacturers.”

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“As I continued through Cicero's pages, I found much more material celebrating my way of life.”

Way Found Materials Pages Celebrate My Way

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“Cicero's words also increased my personal satisfaction by supporting my long-standing rejection of a conventional point of view.”

Long Views Standing Satisfaction Point Of View Rejection Conventional Personal Satisfaction

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“When I run into a paradox I think either I'm a total horse's ass to have gotten to this point, or I'm fruitfully near the edge of my discipline. It adds excitement to life to wonder which it is.”

Thinking Running Wonder Discipline Horse Add Edges Ass Excitement Paradox

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“Part of [having uncommon sense] is being able to tune out folly, as opposed to recognizing wisdom. If you bat away many things, you don't clutter yourself.”

Ifs Able Common Sense Folly Tunes Bats Recognizing Clutter Uncommon

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“A man who dreads trials and difficulties cannot become a revolutionary. If he is to become a revolutionary with an indomitable fighting spirit, he must be tempered in the arduous struggle from his youth. As the saying goes, early training means more than late earning.”

Source: The Present Times and the Tasks Facing Young People: Talk to the Senior Officials of the Central Committee of the Workers' Party of Korea, October 12, 1988

“I'd rather throw a viper down my shirt front than hire a compensation consultant.”

Fronts Shirts Compensation Consultants Vipers

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“We may well have a competitive advantage buying decent businesses at decent prices. But they won't be fabulous businesses and fabulous prices. There's too much competition and money out there, with many buyout specialists.”

Wells May Too Much Advantage Competition Decent Buying Fabulous Specialists Competitive Advantage

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“And maybe the cereal makers by and large have learned to be less crazy about fighting for market share-because if you get even one person who's hell-bent on gaining market share.... For example, if I were Kellogg and I decided that I had to have 60% of the market, I think I could take most of the profit out of cereals. I'd ruin Kellogg in the process. But I think I could do it.”

Ifs Thinking Persons Fighting Process Hell Share Crazy Example Decided Profit Ruins Makers Bent Cereal

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“Even bright people are going to have limited, really valuable insights in a very competitive world when they're fighting against other very bright, hardworking people. And it makes sense to load up on the very few good insights you have instead of pretending to know everything about everything at all times.”

People Knows World Fighting Valuable Insight All Time Make Sense Pretending Load Hardworking

Author:Charlie Munger