751 Quotes by Charlie Munger

We have never had the will to enforce the immigration laws. What you see is what you'll continue to get.

A lot of our respected financial institutions are just casinos in drag.

We don't have any miraculous way of avoiding taxes at Wesco and Berkshire.

You're looking for a mispriced gamble. That's what investing is. And you have to know enough to know whether the gamble is mispriced. That's value investing.

I think gold is a great thing to sew onto your garments if you're a Jewish family in Vienna in 1939, but civilized people don't buy gold, they invest in productive businesses.

Expect hogs to eat a lot more in the presence of a lot of hog wash.

I won’t bet $100 against house odds between now and the grave.

We have a high moral responsibility to be rational

It's not given to human beings to have such talent that they can just know everything about everything all the time. But it is given to human beings who work hard at it - who look and sift the world for a mispriced bet - that they can occasionally find one. And the wise ones bet heavily when the world offers them that opportunity. They bet big when they have the odds. And the rest of the time they don't. It's just that simple.