Charles T. Munger · 512 pages
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“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.”
― Charles T. Munger, quote from Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger
“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.”
― Charles T. Munger, quote from Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger
“There is no better teacher than history in determining the future... There are answers worth billions of dollars in 30$ history book.”
― Charles T. Munger, quote from Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger
“How to find a good spouse?
-the best single way is to deserve a good spouse.”
― Charles T. Munger, quote from Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger
“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.”
― Charles T. Munger, quote from Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger
“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.”
― Charles T. Munger, quote from Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger
“What are the secret of success?
-one word answer :"rational”
― Charles T. Munger, quote from Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger
“The best armour of old age is a well spent life perfecting it.”
― Charles T. Munger, quote from Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger
“In my whole life, I have known no wise people (over a board subject matter area) who didn't read all the time - none, zero. You'd be amazed 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.”
― Charles T. Munger, quote from Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger
“The best armour of old age is a well spent life preceding it.”
― Charles T. Munger, quote from Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger
“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.”
― Charles T. Munger, quote from Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger
“I think that, every time you see the word EBITDA, you should substitute the words "bullshit earnings.”
― Charles T. Munger, quote from Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger
Charles T. Munger
Born place: in Omaha, The United States
Born date January 1, 1924
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“My secret is that I choose to be the person that I want to be. That I don't believe in destiny or predetermination, but in choice, and that each of us chooses to be the person we are. Whatever you want to be you can be, whatever you want to do you can do, wherever you want to go you can go. The world, and the life ahead, is ours for the taking. The future is unwritten, and you can make it whatever you want it to be”
― James Frey, quote from The Calling
“There are always monsters,” the old man replied. “Just as there are always men who will join them, and men who will fight them.”
― Nora Roberts, quote from Morrigan's Cross
“As they traveled the sun and moon dipped in the sky and then rose again, moving around them in a stately dance. In the summer months, at the top of the world, neither sank below the horizon. The sky was both dark and light, the sun a tiny pale ball and the moon a long thin crescent, lying on its back like a bowl. Then, for a time, the sun was directly below the moon, looking insignificant and weak.”
― Jessica Day George, quote from Sun and Moon, Ice and Snow
“The ideal business is one that earns very high returns on capital and that keeps using lots of capital at those high returns. That becomes a compounding machine,” Buffett said. “So if you had your choice, if you could put a hundred million dollars into a business that earns twenty percent on that capital—twenty million—ideally, it would be able to earn twenty percent on a hundred twenty million the following year and on a hundred forty-four million the following year and so on. You could keep redeploying capital at [those] same returns over time. But there are very, very, very few businesses like that...we can move that money around from those businesses to buy more businesses.”
― Alice Schroeder, quote from The Snowball: Warren Buffett and the Business of Life
“I took a stroll in the curious old-world garden which flanked the house. Rows of very ancient yew trees cut into strange designs girded it round. Inside was a beautiful stretch of lawn with an old sundial in the middle, the whole effect so soothing and restful that it was welcome to my somewhat jangled nerves.”
― Arthur Conan Doyle, quote from The Valley of Fear
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