Charlie Munger R.I.P.: Profound Words and Beyond
Charlie Munger's wisdom has over time influenced my journey at various points, shaping my perspectives in investing, business, and life. As the vice-chairman of Berkshire Hathaway and Warren Buffett's esteemed partner, his unique blend of wit and wisdom has been more than just educational—it's been transformative. The quotes I've gathered from him are not mere words; they are powerful lessons that have deeply impacted my understanding and approach.
On Investing and Economics
⏰ The big money is not in the buying and selling, but in the waiting.
🪨 Remember that reputation and integrity are your most valuable assets—and can be lost in a heartbeat.
On Knowledge and Learning
🐎 I constantly see people rise in life who are not the smartest, sometimes not even the most diligent, but they are learning machines. They go to bed every night a little wiser than they were when they got up and boy does that help, particularly when you have a long run ahead of you.
📚 In my whole life, I have known no wise people (over a broad subject matter area) who didn't read all the time—none, zero.
On Decision Making
🧺 We have three baskets for investing: yes, no, and too tough to understand.
🧠 It is remarkable how much long-term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very intelligent.
On Business and Management
📏 Show me the incentive and I will show you the outcome.
💰 Never, ever, think about something else when you should be thinking about the power of incentives.
On Life and Philosophy
⛔️ A lot of success in life and business comes from knowing what you want to avoid: early death, a bad marriage, etc.
😁 All I want to know is where I'm going to die, so I'll never go there.
On Success
📈 The first rule of compounding: Never interrupt it unnecessarily.
📋 No wise pilot, no matter how great his talent and experience, fails to use his checklist.
Words of Wisdom
These quotes reflect Munger's pragmatic approach to investing, his emphasis on continuous learning, ethical business practices, and the importance of understanding one's limitations. His wisdom extends beyond finance, offering insights into human nature, decision-making, and life strategies.
RIP
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