Charlie Munger Quotes

My investment advice is rooted in my understanding of economics.

Understanding how to be a good investor makes you a better business manager and vice versa.

Doing ventures is great - I'm talking economics now - if you've got a rising market. It's wonderful. If I hadn't got HKT, I would have been just as happy. Because there's a price for everything. And to overpay for something is awful.

I've been in real estate for my whole life, I've been trying to sharpshoot the market with my investments, I'm never right. All you need to do is get near the bottom. That's good enough.

The great skill of investment is to know when the right time is to get out. Getting in's easy.

Just because one happens to be wealthy, it doesn't mean you are naturally any good at building an investment operation that is world-class or successful.

One of the rules I've learned is that struggling to try and think your way into making an investment is usually the best way to not have a great outcome.

Successful investing is all about common sense.

Trust me: I know a good investment when I see one.

Good investors have to choose how to allocate their mind share with the precious capital they have.

For us, whether the market is skewed from a bubble perspective or not really is mitigated by staying focused on what we do best.

I called my business manager in California and said, 'Sell all of my stock' - what little of it I had - and it's the only smart financial move I ever made.

I have yet to take capital losses on any company. Then again, it's still early.

Our balance sheet provides us with the ability to act on investment opportunities in appropriate areas that diversify and broaden our portfolio, including the gas and energy sector.

Nobody ever lost money taking a profit.

Investors have to ask themselves two questions. How much can we grow our investments? And, can we afford our mistakes?

Leave no stone unturned to help your clients realize maximum profits from their investment.

In my day job, I worry non-stop about making wise investments for long-term gains.

I create offbeat advice; I don't follow it. I rarely take third-party advice on my investments.

I don't want to be on anyone's board. I just want to have good investments.

The social object of skilled investment should be to defeat the dark forces of time and ignorance which envelope our future.

In tennis, you strike a ball just after the rebound for the fastest return. It's the same with investment.

In any business opportunity, you'd be looking, probably, primarily at the risk and return. Some business can be very risky with a low return; what you want is the lowest risk with the biggest return.

The good news in investing is there are no HR problems. If there are no humans, there are no problems!

When I was very young, maybe 12 years, I began to make investments.