Home / Quotes / Quote by Charlie Munger

Quote by Charlie Munger

“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.”

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

You May Also Like

“A rough rule in life is that an organization foolish in one way in dealing with a complex system is all too likely to be foolish in another.”

Way Life Is Organization Complexes Foolish One Way Rough Complex Systems

Author:Charlie Munger

“I have a black belt in chutzpah. I was born with it. Some people, like some of the women I know, have a black belt in spending. They were born with that. But what they gave me was a black belt in chutzpah.”

People Knows Black Born Spending Belts Black Belt

Author:Charlie Munger

“Most people early achieve and later intensify a tendency to process new and disconfirming information so that any original conclusion remains intact. They become people of whom Philip Wylie observed: "You couldn't 't squeeze a dime between what they already know and what they will never learn."”

People Knows Process Achieve Information Originals Remains Tendencies Conclusion Dimes Philip

Author:Charlie Munger

“We have a history when things are really horrible of wading in when no one else will.”

Author:Charlie Munger

“We don't have an isolated group [of senior managers] surrounded by servants. Berkshire's headquarters is a tiny little suite. We just came back from Berkshire's board meeting; it had moved up to the board room of the Kiewit company and [it was so large and luxurious that] I felt uncomfortable.”

Littles Felt Rooms Company Groups Moved Meetings Tiny Managers Servant Uncomfortable Boards Isolated Senior Luxurious Headquarters Board Meetings

Author:Charlie Munger

“Obviously, consideration of costs is key, including opportunity costs. Of course capital isn't free. It's easy to figure out your cost of borrowing, but theorists went bonkers on the cost of equity capital. They say that if you're generating a 100% return on capital, then you shouldn't invest in something that generates an 80% return on capital. It's crazy.”

Ifs Courses Opportunity Easy Crazy Figures Keys Return Cost Including Consideration Equity Borrowing Theorists Opportunity Cost

Author:Charlie Munger

“A few public hangings will really change behavior. One of our Presidents said if he could execute three people each year for no cause, it would make it a lot easier to govern. When someone said that's not enough, he said, "Oh yes it is, because I'd publish the list of people under consideration."”

People Ifs Years Said Enough Three Causes President Easier Behavior Lists Consideration Publish

Author:Charlie Munger

“'Crowd folly', the tendency of humans, under some circumstances, to resemble lemmings, explains much foolish thinking of brilliant men and much foolish behavior - like investment management practices of many foundations represented here today. It is sad that today each institutional investor apparently fears most of all that its investment practices will be different from practices of the rest of the crowd.”

Thinking Men Humans Different Today Practice Circumstances Behavior Management Foundation Investment Crowds Brilliant Foolish Tendencies Folly Investors Lemmings Investment Management

Author:Charlie Munger

“For many of our shareholders, our stock is all they own, and we're acutely aware of that. Our culture [of conservatism] runs pretty deep.”

Running Culture Conservatism Shareholders

Author:Charlie Munger

“I think the foundation at Berkshire [Buffett's stake in Berkshirewill pass to the Buffett Foundation upon his death] will be a plus because there will be a continuation of the culture. We'd still take in fine businesses run by people who love them.”

People Thinking Stills Running Culture Fine Foundation Plus Stakes Continuation Buffett

Author:Charlie Munger