Five Quotes From The Legendary Charlie Munger
Everyone knows about Warren Buffett.
But, not nearly as many people know about Charlie Munger. Only hardcore value investors and fans of Berkshire Hathaway know about Munger. In a way, he is the icon for hipster value investors.
Munger has been Buffett’s business partner for 50+ years. They both continually say their success is partly due to each other. Their personalities and temperaments balance out in near perfection.
Below you will find 5 quotes from Charlie Munger that I consider to be my favorite. They are insightful. They are witty. They are fun and inspiring. And they should shine more light on who Munger is and what he teaches. Enjoy!
ONE: EPICTETUS
“Life will have terrible blows in it, horrible blows, unfair blows. It doesn’t matter. And some people recover and others don’t. And there I think the attitude of Epictetus is the best. He thought that every missed chance in life was an opportunity to behave well. Every missed chance in life was an opportunity to learn something and that your duty was not to be submerged in self-pity. But instead to utilize the terrible blow in constructive fashion. That is a very good idea.” — Charlie Munger
TWO: GROWTH
“You don’t have to be brilliant, only a little bit wiser than the other guys, on average, for a long, long time.” — Charlie Munger
THREE: REMEMBER MOZART
“I’m always reminded of the young guy who went to Mozart and said, ‘I’d like to write symphonies.’ When Mozart said, ‘You’re too young,’ the young man replied, ‘But you were young when you started.’ Mozart pointed out, ‘Yes, but I wasn’t asking anyone else for advice on how to do it.’” — Charlie Munger
FOUR: INVERT
“Invert, always invert: Turn a situation or problem upside down. Look at it backward. What happens if all our plans go wrong? Where don’t we want to go, and how do you get there? Instead of looking for success, make a list of how to fail instead. Tell me where I’m going to die, that is, so I don’t go there.” — Charlie Munger
FIVE: CAREER ADVICE
“Three rules for a career: 1) Don’t sell anything you wouldn’t buy yourself; 2) Don’t work for anyone you don’t respect and admire; and 3) Work only with people you enjoy.”
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