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Quote by Charlie Munger

“Just avoid things like racing trains to the crossing, doing cocaine, etc. Develop good mental habits.”

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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“If you have only a little capital and are young today, there are fewer opportunities than when I was young. Back then, we had just come out of a depression. Capitalism was a bad word. There had been abuses in the 1920s. A joke going around then was the guy who said, 'I bought stock for my old age and it worked - in six months, I feel like an old man!' "It's tougher for you, but that doesn't mean you won't do well - it just may take more time. But what the heck, you may live longer."”

Ifs Men Feels Wells May Mean Littles Said Age Today Young Guy Opportunity Months Six Jokes Capitalism Abuse Old Age More Time Old Man Fewer Six Months Bad Word

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“You can hire your advisor and then just apply a windage factor, like I used to do when I was a rifle shooter. I'd just adjust for so many miles an hour wind. Or you can learn the basic elements of your advisor's trade. You don't have to learn very much, by the way, because if you learn just a little then you can make him explain why he's right.”

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“I don't sleep much. It takes me a long time to fall asleep. I'm a bit of an insomniac but, when I fall asleep, I don't ever want to wake up.”

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“We get these questions a lot from the enterprising young. It's a very intelligent question: You look at some old guy who's rich and you ask, 'How can I become like you, except faster?'”

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“It would be easier to screw up American Express than Coke or Gillette, but it's an immensely strong business.”

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“Well the open-outcry auction is just made to turn the brain into mush: you've got social proof, the other guy is bidding, you get reciprocation tendency, you get deprival super-reaction syndrome, the thing is going away... I mean it just absolutely is designed to manipulate people into idiotic behavior.”

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“Financial institutions make us nervous when they're trying to do well.”

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“I was definitely a thespian of sorts in elementary school. I went to a real small private school and every year I participated in the talent shows and the school plays, all of 'em.”

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“I sang "Patience" by Guns N' Roses for my sixth grade talent show and I wanted to be an actor when I was younger. It was all very, very theatrical. It was only later that I separated the two and thought of myself as quite the opposite of an actor.”

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“I've kind of gotten more timid. I used to be fearless - at a certain point I didn't care about what anybody thought. I had all the answers and I could have been as bad as I wanted to be. But nowadays I just want to be good and make people happy.”

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