Charlie Munger
Charlie Munger
Charles Thomas Mungeris an American businessman, lawyer, investor, and philanthropist. He is vice chairman of Berkshire Hathaway, the conglomerate controlled by Warren Buffett; in this capacity, Buffett describes Charlie Munger as “my partner." Munger served as chairman of Wesco Financial Corporation from 1984 through 2011. He is also the chairman of the Daily Journal Corporation, based in Los Angeles, California, and a director of Costco Wholesale Corporation...
NationalityAmerican
ProfessionEntrepreneur
Date of Birth1 January 1924
CountryUnited States of America
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.
It's hard to predict what will happen with two brands in a market. Sometimes they will behave in a gentlemanly way, and sometimes they'll pound each other. I know of no way to predict whether they'll compete moderately or to the death. If you could figure it out, you could make a lot of money.
As I continued through Cicero's pages, I found much more material celebrating my way of life ...
How you behave in one place, will help in surprising ways later.
We don't have any miraculous way of avoiding taxes at Wesco and Berkshire.
It's simplicity itself that its future will be way worse than its past.
For society, the Internet is wonderful, but for capitalists, it will be a net negative. It will increase efficiency, but lots of things increase efficiency without increasing profits. It is way more likely to make American businesses less profitable than more profitable. This is perfectly obvious, but very little understood.
The tradition of always looking for the answer in the most fundamental way available - that is a great tradition, and it saves a lot of time in this world.
There's no way that you can live an adequate life without making many mistakes.
The general systems of money management [today] require people to pretend to do something they can't do and like something they don't. It's a terrible way to spend your life, but it's very well paid.
The only way to win is to work, work, work, work, and hope to have a few insights
It's a rare business that doesn't have a way worse future than it has a past.
...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....
The safest way to get what you want is to deserve what you want.