Quotessence
Home / Quotes / Quote by Charlie Munger

Quote by Charlie Munger

“If people tell you what you really don't want to hear what's unpleasant-there's an almost automatic reaction of antipathy. You have to train yourself out of it.”

Quote by Charlie Munger

Create image

Author

Charlie Munger
Charlie Munger

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

You May Also Like

“If you turn on the television, you'll find the mothers of the most obvious criminals that man could ever diagnose, and they all think their sons are innocent. 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.”

IfsThinkingMenProblemRealityMotherTurnsCausesSimpleCommonTelevisionSonBearsTerriblePainfulObviousCriminalsInnocentPsychologicalDenialTurn-onBearable
Author:Charlie Munger
Create image

“Everyone caved, adopted loose [accounting] standards, and created exotic derivatives linked to theoretical models. As a result, all kinds of earnings, blessed by accountants, are not really being earned. When you reach for the money, it melts away. It was never there. It [accounting for derivatives] is just disgusting. It is a sewer, and if I'm right, there will be hell to pay in due course. All of you will have to prepare to deal with a blow-up of derivative books.”

IfsKindBookCoursesResultsDealsPayHellModelsStandardsBlessedBlowDuesAll KindsDisgustingEarningLinkedAdoptedTheoreticalExoticAccountingAccountantsDerivativesSewers
Author:Charlie Munger
Create image

“The Berkshire-style investors tend to be less diversified than other people. The academics have done a terrible disservice to intelligent investors by glorifying the idea of diversification. Because I just think the whole concept is literally almost insane. It emphasizes feeling good about not having your investment results depart very much from average investment results. But why would you get on the bandwagon like that if somebody didn't make you with a whip and a gun?”

PeopleIfsThinkingIdeasDoneWholeFeelingsResultsStyleTerribleGunConceptsIntelligentInvestmentAverageFeel GoodInsaneInvestorsWhipsDisserviceDiversificationBandwagon
Author:Charlie Munger
Create image