751 Quotes by Charlie Munger

You don’t have to have perfect wisdom to get very rich – just a bit better than average over a long period of time.

The basic concept of value to a private owner and being motivated when you’re buying and selling securities by reference to intrinsic value instead of price momentum – I don’t think that will ever be outdated.

For some odd reason, I had an early and extreme multidisciplinary cast of mind. I couldn’t stand reaching for a small idea in my own discipline when there was a big idea right over the fence in somebody else’s discipline. So I just grabbed in all directions for the big ideas that would really work.

When you mix raisins and turds, you’ve still got turds.

Whenever you think something or some person is ruining your life, it’s you. A victimization mentality is so debilitating.

After nearly making a terrible mistake not buying See’s, we’ve made this mistake many times. We are apparently slow learners. These opportunity costs don’t show up on financial statements, but have cost us many billions.

When I run into a paradox I think either I’m a total horse’s ass to have gotten to this point, or I’m fruitfully near the edge of my discipline. It adds excitement to life to wonder which it is.

Any year that you don’t destroy one of your best-loved ideas is probably a wasted year.

You’ve got to have models in your head and you’ve got to array you experience – both vicarious and direct – onto this latticework of mental models.