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Charlie Munger citations

Charles Thomas Munger , principal associé en affaires de l'investisseur Warren Buffett chez Berkshire Hathaway. Avocat de formation , il est également partisan d'une approche philosophique multi-disciplinaire dans les affaires . Comme l'a déjà précisé Warren Buffett, Charlie Munger ne lui succèdera pas aux commandes de Berkshire Hathaway . Wikipedia  

✵ 1. janvier 1924
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Charlie Munger: 9   citations 0   J'aime

Charlie Munger: Citations en anglais

“You have to learn all the big ideas in the key disciplines in a way that they're in a mental latticework in your head and you automatically use them for the rest of your life. If you do that, I solemnly promise you that one day you'll be walking down the street and you'll look to your right and left and you’ll think "my heavenly days, I'm now one of the few competent people in my whole age cohort."”

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Charlie Munger

If you don't do it, many of the brightest of you will live in the middle ranks or in the shallows.
USC Law School Commencement Speech http://genius.com/Charlie-munger-usc-law-commencement-speech-annotated (2007-05-13)

“Our investment style has been given a name - focus investing - which implies ten holdings, not one hundred or four hundred. The idea that it is hard to find good investments, so concentrate in a few, seems to me to be an obvious idea. But 98% of the investment world does not think this way. It's been good for us.”

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Charlie Munger

Poor Charlie's Almanack, p. 100

“You fix what can be fixed, and what can't be fixed you endure.”

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Charlie Munger

Source: [Charlie Munger, Vice Chairman of Berkshire Hathaway, speaks at the Daily Journal Annual Meeting, February 24, 2021, Yahoo Finance, YouTube, https://www.youtube.com/watch?v=Pp4CvjNw-9Y] (quote at 1:09:20 of 1:59:05)

“What I would say is the single most important thing, if you want to avoid all the stupid errors, is knowing where you're competent and where you aren't. And that's very hard to do because the human mind naturally tries to make you think you're way smarter than you are.”

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Charlie Munger

[A Conversation with Distinguished Alumnus Charles T. Munger (CERT '44, CAVU), December 17, 2020, Caltech, YouTube, https://www.youtube.com/watch?v=WaDU1J91hY8] (quote at 18:20 of 58:41)

“... I regard it as a cinch that a great nation will in due time be Rome. ... Where is Rome? Where is Britain in its heyday? They all pass and so our turn is bound to come some day.”

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Charlie Munger

[Berkshire Hathaway VP Charlie Munger on investing, February 15, 2019, CNBC Television, YouTube, https://www.youtube.com/watch?v=peUrLZ24GfM] (quote at 9:22 of 31:45)

“I see [Bitcoin as] an artificial speculative medium that people are buying just because they think they can sell it to somebody else at a higher price, even though it inherently has no intrinsic value. So, I regard the whole business as anti-social, stupid, immoral. [...] I regard the thing as a combination of dementia and immorality, and I think the people that are pushing it are a disgrace.”

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Charlie Munger

Yahoo Finance interview with Andrew Serwer https://www.youtube.com/watch?v=AIYPu4MFLl4, May 7, 2018 (at 17:00)

“You can't give the average Wall Street CEO really lenient standards of accounting and expect the figures to be good. The accountant is like the referee in soccer. The accountant has to be the adult that prevents the mayhem. Accountants don't want to be the adults because it causes liability, it causes responsibility, it causes difficulty ... they failed us terribly.”

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Charlie Munger

[A Conversation with Charlie Munger, Ross School of Business, YouTube, March 22, 2011, https://www.youtube.com/watch?v=Pph3Bg8Pihg] (quote at 23:30 of 1:59:58)

“We don't want to make our money selling things that are bad for people.”

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Charlie Munger

[Berkshire Hathaway Shareholders Meeting 2021 featuring Warren Buffett and Charlie Munger, May 1, 2021, Yahoo Finance, YouTube, https://www.youtube.com/watch?v=gx-OzwHpM9k] (quote at 4:32:01 of 5:42:25)

“... much of what is taught in modern corporate finance courses is twaddle.”

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Charlie Munger

Source: 1996 Berkshire Hathaway Annual Meeting, YouTube video with quote at 2:41:46 of 4:54:01 in video https://www.youtube.com/watch?v=5YptOBQTb14