751 Quotes by Charlie Munger

With Congress and the S.E.C. so heavily peopled by lawyers, and with lawyers having been so heavily involved in drafting financial disclosure documents now seen as bogus, there was a new "lawyer" joke every week. One such was: "The butcher says 'the reputation of lawyers has fallen dramatically', and the check-out clerk replies: "How do you fall dramatically off a pancake?

It's dangerous to short stocks.

The safest way to get what you want is to deserve what you want.

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.

...People need to ask, "How do I play the hand that has been dealt me?" The world is not going to give you extra return just because you want it. You have to be very shrewd and hard working to get a little extra. It's so much easier to reduce your wants. There are a lot of smart people and a lot of them cheat, so it's not easy to win.

Those who will not face improvements because they are changes, will face changes that are not improvements.

Being short and seeing a promoter take the stock up is very irritating. It's not worth it to have that much irritation in your life.

The first chance you have to avoid a loss from a foolish loan is by refusing to make it; there is no second chance.

Is there such thing as a cheerful pessimist? That's what I am.