Quotes From Charlie Munger

Don't drift into self-pity because it doesn't solve any problems.

Those who keep learning, will keep rising in life.

At a certain point, you have to suck it up and cope.

Life has terrible and unfair blows. Utilize them in a constructive fashion.

Real knowledge is knowing that you don't know anything.

If you're lazy and unreliable, it doesn't matter what you're good at.

There's a lot of stupidity on the part of major philanthropic groups.

Don't overspend. Even Mozart couldn't get away with doing that.

Avoid extremely intense ideology because it ruins your mind.

Keep it simple.

Optimistic accounting leads to 99% of problems.

Assets require more scrutiny than the liabilities.

People who rise high enough in business have a moral duty to be underpaid.

Only those who are willing to leave at any point should hold high level corporate jobs.

"One solution fits all" doesn't work.

Many successful organizations have fewer (rather than more) controls.

Deserved trust is the most important thing.

Great investing requires a lot of delayed gratification.

He wanted to be rich in order to be independent.

Wisdom acquisition is a moral duty.

School is not a prerequisite.

He learned by reading, not schooling.

CEOs should be "empowered" to make decisions without extensive review by the board of directors.

Even Ben Graham had a lot to learn as an investor.

The bailouts should've been ever bigger.

The fortunate should give back.

Regarding quick trading of derivatives and stocks.