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22 Charlie Munger Life Quotes

Charlie Munger

Charlie Munger Life Quotes: Charles Thomas Munger (born January 1, 1924) is an American billionaire investor, businessman, former real estate attorney, architectural designer, and philanthropist. He is vice chairman of Berkshire Hathaway, the conglomerate controlled by Warren Buffett; Buffett has described Munger as his partner. Munger served as chairman of Wesco Financial Corporation from 1984 through 2011. He is also chairman of the Daily Journal Corporation, based in Los Angeles, California, and a director of Costco Wholesale Corporation.  Below we’ve compiled some of our favorite Munger quotes for your enjoyment.

Common Questions about Charlie Munger:

What happened to Charlie Munger eye?

In his 50s, after a failed eye cataract surgery that rendered his left eye blind, Munger had his left eye removed due to severe pain. When doctors told him that he had developed a condition that may cause his remaining eye to fill up with blood and become blind too, Munger started taking braille lessons.

How old is Charlie Munger?

97 years (January 1, 1924)

When did Charlie Munger start investing?

The successes of Charlie’s law firm, Munger, Tolles, and his hedge fund, Wheeler, Munger & Co., founded in 1962, furthered his career as an independent investor. Munger and Buffett built an informal partnership, investing together throughout the 1970s.

Our Favorite Charlie Munger Life Quotes

“Spend each day trying to be a little wiser than you were when you woke up. Day by day, and at the end of the day-if you live long enough-like most people, you will get out of life what you deserve.”

“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. You'd be amazed at how much Warren reads--and at how much I read. My children laugh at me. They think I'm a book with a couple of legs sticking out.”

“We both (Charlie Munger and Warren Buffett) insist on a lot of time being available almost every day to just sit and think. That is very uncommon in American business. We read and think.”

“There is no better teacher than history in determining the future... There are answers worth billions of dollars in $30 history book.”

“How to find a good spouse? -the best single way is to deserve a good spouse.”

“Acquire worldly wisdom and adjust your behavior accordingly. If your new behavior gives you a little temporary unpopularity with your peer group…then to hell with them.”

“It takes character to sit with all that cash and to do nothing. I didn't get top where I am by going after mediocre opportunities.”

“Develop into a lifelong self-learner through voracious reading; cultivate curiosity and strive to become a little wiser every day.”

“What are the secret of success? -one word answer :"rational”

“Go to bed smarter than when you woke up.”

“Envy is a really stupid sin because it’s the only one you could never possibly have any fun at. There’s a lot of pain and no fun. Why would you want to get on that trolley?”

“The iron rule of nature is: you get what you reward for. If you want ants to come, you put sugar on the floor.”

“The best armour of old age is a well spent life perfecting it.”

“If something is too hard, we move on to something else. What could be simpler than that?”

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“The best armour of old age is a well spent life preceding it.”

“Mimicking the herd invites regression to the mean (merely average performance).”

“Warren talks about these discounted cash flows. I’ve never seen him do one.”

“I think that, every time you see the word EBITDA, you should substitute the words "bullshit earnings.”

“You don't have to pee on an electric fence to learn not to do it”

“In Buffett’s view, if you cannot write it down, you have not thought it through.”

“All the equity investors, in total, will surely bear a performance disadvantage per annum equal to the total croupiers’ costs they have jointly elected to bear. This is an inescapable fact of life. And it is also inescapable that exactly half of the investors will get a result below the median result after the croupiers’ take, which median result may well be somewhere between unexciting and lousy.”

“The reason we avoid the word "synergy" is because people generally claim more synergistic benefits than will come. Yes, it exists, but there are so many false promises. Berkshire is full of synergies - we don't avoid synergies, just claims of synergies.”