Charlie Munger (January 1, 1924 – November 28, 2023) was a renowned and legendary American investor, businessman, and philanthropist. Munger is most famous for his role as the Vice Chairman of multinational conglomerate holding company Berkshire Hathaway and right-hand man to CEO Warren Buffett.
Apart from Berkshire Hathaway, Munger is admired for his wit, wisdom, and sage advice. He embraced the role of a teacher and had a deep knowledge of many subjects, including investing, economics, psychology, biology, architecture, and human behavior. Like his fellow polymath hero, Benjamin Franklin, Munger is known for his many insightful sayings and aphorisms – referred to as “Mungerisms.” Munger is a proponent of continuous lifelong learning, and developing a “latticework” mental models (a full kit of tools), understanding how they interact to navigate through any issue.
Charlie Munger Quotes
“Whenever you think something or some person is ruining your life, it’s you. A victimization mentality is so debilitating.”
“In my whole life, I have known no wise people … who didn’t read all the time. … You’d be amazed at how much Warren reads, at how much I read. My children laugh at me. They think I’m a book with a couple of legs sticking out.”
“You don’t have to be brilliant, only a little bit wiser than the other guys, on average, for a long, long, time.”
“Remember that reputation and integrity are your most valuable assets, and can be lost in a heartbeat.”
“Spend each day trying to be a little wiser than you were when you woke up. Discharge your duties faithfully and well. Systematically you get ahead, but not necessarily in fast spurts. Nevertheless, you build discipline by preparing for fast spurts. Slug it out one inch at a time, day by day. At the end of the day – if you live long enough – most people get what they deserve.”
“It is remarkable how much long-term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very intelligent.”
“The iron rule of nature is: You get what you reward for. If you want ants to come, you put sugar on the floor.”
“I never allow myself to have an opinion on anything that I don’t know the other side’s argument better than they do.”
“I believe in the discipline of mastering the best that other people have ever figured out. I don’t believe in just sitting down and trying to dream it all up yourself. Nobody’s that smart.”
“The way to win is to work, work, work, work and hope to have a few insights. And you’re probably not going to be smart enough to find thousands in a lifetime. And when you get a few, you really load up. It’s just that simple.”
Charlie Munger Books
“Poor Charlie’s Almanack: The Essential Wit and Wisdom of Charles T. Munger” – by Charlie Munger and edited by Peter D. Kaufman
“Damn Right: Behind the Scenes with Berkshire Hathaway Billionaire Charlie Munger” – by Janet Lowe
“Charlie Munger: The Complete Investor” – by Tren Griffin
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