751 Quotes by Charlie Munger

It’s a good habit to trumpet your failures and be quiet about your successes.

Take a simple idea and take it seriously.

For years I have read the morning paper and harrumphed. There’s a lot to harrumph about now.

The stupid and dishonest accountants allowed the genie of totally inappropriate accounting to descend on derivatives books. And once this has happened – people get status, etc. – it’s impossible to get it back into the bottle.

Well, the questioner came from Singapore which has perhaps the best economic record in the history of developing an economy and therefore he referred to 15% per annum as modest. It’s not modest-it’s arrogant. Only someone from Singapore would call it modest.

Don’t do cocaine. Don’t race trains. And avoid AIDS situations.

The big money is not in the buying and selling, but in the waiting.

Beta and modern portfolio theory and the like – none of it makes any sense to me.

Three rules for a career: Don't sell anything you wouldn't buy yourself. Don't work for anyone you don't respect and admire. Work only with people you enjoy.