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Quote by Charlie Munger

“Opportunity comes to the prepared mind.”

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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“A lot of opportunities in life tend to last a short while, due to some temporary inefficiency... For each of us, really good investment opportunities aren't going to come along too often and won't last too long, so you've got to be ready to act and have a prepared mind.”

Mind Long Lasts Opportunity Ready Prepared Investment Dues Temporary Inefficiency

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“In the 1930s, there was a stretch where you could borrow more against the real estate than you could sell it for. I think that's what's going on in today's private-equity world.”

Thinking World Real Today Sells Hats Estates Equity 1930s Private Equity

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“Let me know what your problem is, and I will try to make it more difficult for you.”

Knows Trying Problem Difficult Let Me

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“I mean people are really crazy about minor decrements down. And then, if you act on them, then you get into reciprocation tendency, because you don't just reciprocate affection, you reciprocate animosity, and the whole thing can escalate. And so huge insanities can come from just subconsciously over-weighing the importance of what you're losing or almost getting and not getting.”

People Ifs Mean Whole Crazy Huge Losing Importance Down And Affection Tendencies Insanity Minors Mean People Animosity Weighing Reciprocate

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“Anytime anybody offers you anything with a big commission and a 200-page prospectus, don't buy it. Occasionally, you'll be wrong if you adopt "Munger's Rule." However, over a lifetime, you'll be a long way ahead - and you will miss a lot of unhappy experiences.”

Ifs Way Long Bigs Missing Offers Pages Lifetime Unhappy Long Way

Author:Charlie Munger

“The cost of being a publicly traded stock has gone way, way up. It doesn't make sense for a little company to be public anymore. A lot of little companies are going private to be rid of these burdensome requirements.”

Way Littles Company Gone Cost Make Sense Requirements

Author:Charlie Munger

“Rationality is not just something you do so that you can make more money, it is a binding principle. Rationality is a really good idea. You must avoid the nonsense that is conventional in one's own time. It requires developing systems of thought that improve your batting average over time.”

Ideas Principles Average Developing Nonsense Good Ideas More Money Conventional Rationality Binding Batting

Author:Charlie Munger

“...by regularly reading business newspaper and magazines I am exposed to an enormous amount of material at the micro level.. I find that what I see going on there pretty much informs me about what's happening at the macro level.”

Reading Levels Materials Amount Happenings Newspapers Enormous Magazines Exposed Macro

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“The normal expectancy of the average investor - for example, the pension funds of AT&T or IBM - is 6% for a long time.”

Long Example Normal Long Time Average Fund Investors Pension Expectancy Ibm

Author:Charlie Munger

“The average result has to be the average result. By definition, everybody can't beat the market. As I always say, the iron rule of life is that only 20% of the people can be in the top fifth. That's just the way it is.”

People Way Life Is Results Beats Average Definitions Iron Fifth Rules Of Life

Author:Charlie Munger