Home / Quotes / Quote by Charlie Munger

Quote by Charlie Munger

“The general culture of investment banking has deteriorated over the years. We did a $6 million deal years ago for Diversified Retailing and we were rigorously and intelligently screened. They bankers cared and wanted to protect their clients. The culture now is that anything that can be sold for a profit will be. 'Can you sell it?' is the moral test, and that's not an adequate test.”

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

“The interesting thing about it to me is the mindset. With all these "helpers" running around, they talk about doing deals. We talk about welcoming partners. The guy doing deals, he wants to do a deal and then unwind it in the near future. It's totally opposite for us. We like to build lasting relationships. I think our system will work better in the long term than flipping deals. I think there are so many of them [helpers] that they'll get in ea h other's way. I don't think they'll make enough money to meet their expectations, by flipping, flipping, flipping.”

Thinking Way Want Long Enough Running Guy Term Interesting Deals Expectations Opposites Mindset Partners Welcome Long Term Lasting Interesting Things Helpers Unwind Lasting Relationship

Author:Charlie Munger

“The hedge fund known as "Long Term Capital Management" collapsed last fall through overconfidence in its highly leveraged methods, despite I.Q.'s of its principals that must have averaged 160. Smart people aren't exempt from professional disasters from overconfidence. Often, they just run aground in the more difficult voyages they choose, relying on their self-appraisals that they have superior talents and methods.”

“A foreign correspondent, after talking to me for a while, once said: "You don't seem smart enough to be so good at what you're doing. Do you have an explanation?"”

Said Enough Seems Talking Smart Explanation

Author:Charlie Munger

“When we were young, there weren't very many smart people in the investment world. You should have seen the people in the bank trust departments. Now, there are armies of smart people at private investment funds, etc . If there were a crisis now, there would be a lot more people with a lot of money ready to take advantage.”

People Ifs World Should Would Be Young Ready Smart Advantage Should Have Army Crisis Investment Department Etc Fund Lots Of Money Smart People

Author:Charlie Munger

“Although I am very interested in the subject of human misjudgment - and lord knows I've created a good bit of it - I don't think I've created my full statistical share, and I think that one of the reasons was I tried to do something about this terrible ignorance I left the Harvard Law School with.”

Thinking Knows Humans Reason School Law Left Bits Lord Share Subjects Ignorance Terrible Harvard Law School Harvard Law School

Author:Charlie Munger

“You must be willing to give total unconditional love to everyone, under all circumstances. That means being willing to be totally responsible for what you do and how you do it.”

Giving Mean Willing Circumstances Responsible Unconditional Love Unconditional

Book:In The Meantime: Finding Yourself And The Love You Want

Source: In The Meantime: Finding Yourself And The Love You Want

“We're all here to figure out how to best give ourselves away.”

Author:Oprah Winfrey

“All that is obvious detracts completely from all that is not.”

Author:Emma Restall Orr

“If you submit to the ocean, you drown. If you try to control the ocean, then you're deluded. You learn how to live with the ocean. You learn how to float, to swim, to be a part of it, to be with it. That is the nature of the Pagan's relationship with nature.”

Ifs Trying Ocean Swim Submit Floats Pagan Deluded

Author:Emma Restall Orr

“I call that god the Little G. Because the god that we've been worshipping is not to me the Supreme Creator. Anybody who needs to control and make people feel ashamed. . .It's like, 'I send my only begotten son. . .' Well you know, that concept of sending a son where we as women could, like, breastfeed him and give him milk, but he's not gonna soil his dinky with us? What's that all about?”

People Knows Needs Giving Feels Wells Littles Son Concepts Creator Supreme Soil Ashamed Milk

Author:Tori Amos