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Charlie Munger Quotes


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Quotes by Charlie Munger

Showing 1-10 of 38 Quotes by Charlie Munger

The first rule is that you can't really know anything if you just remember isolated facts and try and bang 'em back. If the facts don't hang together on a latticework of theory, you don't have them in a usable form.

~Charlie Munger

Topics: Anything Back Bang Facts First Form Hang Isolated Just Know Really Remember Rule Them Theory Together Try Usable You

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There's more honor in investment management than in investment banking.

~Charlie Munger

Topics: Banking Honor Investment Management More Than

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I will say this: I know no wise person who doesn't read a lot. I suspect that you can read on the computer now and get a lot of benefit out of it, but I doubt that it'll work as well as reading print worked for me.

~Charlie Munger

Topics: Benefit Computer Doubt Get Know Lot Me Now Out Person Print Read Reading Say Suspect Well Who Will Wise Wise Person Work Worked You

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You need a different checklist and different mental models for different companies.

~Charlie Munger

Topics: Companies Different Mental Models Need You

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If you can get really good at destroying your own wrong ideas, that is a great gift.

~Charlie Munger

Topics: Destroying Get Gift Good Great Great Gift Ideas Own Really Wrong You Your

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Everyone has the idea of owning good companies. The problem is that they have high prices in relations to assets and earnings, and that takes all of the fun out of the game.

~Charlie Munger

Topics: Assets Companies Earnings Everyone Fun Game Good High Idea Out Owning Prices Problem Relations Takes

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Wells Fargo had a glitch - the truth of the matter is they made a business judgement that was wrong. I don't think anything is fundamentally wrong.

~Charlie Munger

Topics: Anything Business Fundamentally Had Judgement Made Matter Think Truth Wrong

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They made a mistake. And it was an easy mistake to make. I don't regard setting incentives aggressively as a mistake. I think the mistake was, when the bad news came, they didn't recognize it directly. I don't think that impairs the future of Wells Fargo. They'll be better for it.

~Charlie Munger

Topics: Bad Bad News Better Came Directly Easy Future Incentives Made Make Mistake News Recognize Regard Setting Think I Think

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I'm a great admirer of the Trump change of mind about China and making an ally out of China instead of screaming about their trade.

~Charlie Munger

Topics: About Admirer Ally Change China Great Instead Making Mind Out Screaming Trade Trump

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I've got some advice for the young: If you've got anything you really want to do, don't wait until you're 93.

~Charlie Munger

Topics: Advice Anything Got Really Some Until Wait Want You Young

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Biography

Nationality: American

Type: Businessman

Born: January 1st, 1924

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