29 November 2023 Chris Percival Leadership

The Best 20 Quotes and Lessons from Charlie Munger

Charlie Munger was known for his wit and wisdom and his close bond with colleague and friend Warren Buffet. Charlie was the Vice Chairman of investment giant Berkshire Hathaway until his death on 28th November 2023.

In tribute to his incredible skill as an investor and leader, and his accompanying ability to deliver ‘one-liners’ at the infamous Berkshire Hathaway annual meeting (and in his many media appearances) which are both witty and full of powerful lessons – here are our favourite notable quotes & lessons:

“Spend each day trying to be a little wiser than you were when you woke up.”

“The best thing a human being can do is to help another human being know more.”

“Spend each day trying to be a little wiser than you were when you woke up.”

“The best thing a human being can do is to help another human being know more.”

“It’s not the strongest of the species that survive, nor the most intelligent, but the one most responsive to change.”

“The game of life is the game of everlasting learning. At least it is if you want to win.”

“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.”

“The best way to get what you want is to deserve what you want.”

“Mimicking the herd invites regression to the mean.”

“I think that every time you see the word EBITDA, you should substitute it with the word ‘bulls**t’.”

“You must value the business in order to value the stock.”

“The big money is not in the buying and selling, but in the waiting.”

“It’s waiting that helps you as an investor, and a lot of people just can’t stand to wait.”

“The desire to get rich fast is pretty dangerous.”

“We have to deal in things that we’re capable of understanding.”

“The first rule of a happy life is low expectations.”

“The iron rule of nature is you get what you reward for.”

“It’s so simple to be wise after the event.”

“The more hard lessons you can learn vicariously, instead of from your own terrible experiences, the better off you will be.”

“It’s not a failure if a mistake is made. It’s only a failure if it’s not corrected.”

“I try to get rid of people who always confidently answer questions about which they don’t have any real knowledge.”

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

Charlie Munger will be forever remembered as one of the most incredible investing minds in the world and leaves a remarkable legacy. He will be missed by the entire investment and business community, but more so by his family and his best friend and colleague, Warren Buffet, who worked alongside Charlie for over six decades.

Chris Percival

Chris is the Founder & Managing Director of CJPI and a Fellow of the Institute of Leadership.

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