Charlie Munger Quotes

It's OK to have your eggs in one basket as long as you control what happens to that basket.

When buying shares, ask yourself, would you buy the whole company?

You get the software you pay for. In every sense. To the nth degree. That's the way the world works.

Price is what you pay, but value, as Warren Buffett has observed, is what you get.

We call ourselves 'opportunistic value investors.'

I think that good, great things can come at every price.

Investing is not as tough as being a top-notch bridge player. All it takes is the ability to see things as they really are.

The critical investment factor is determining the intrinsic value of a business and paying a fair or bargain price.

Avoid second-quality issues in making up a portfolio unless they are demonstrable bargains.

You have to keep your priorities straight if you plan to do well in stocks.

Price is what you pay. Value is what you get.

Buy into good, well-researched companies and then wait. Let's call it a sit-on-your-hands investment strategy.

If you invest in something a little more expensive with longevity, you'll use it more.

In the final analysis, you get what you pay for.

You must spend money to make money.

Customers want to buy something which is not expensive because of a label but which is costly because of the time taken to produce it.

Anything free is worth what you pay for it

Even money has a price.

The only way one should buy stocks is if you understand the underlying business. You stay within the circle of competence. You buy businesses you understand.

Just because a stock is down doesn't mean it's a great buy.

We take the traditional value investor's process and just flip it around a little bit. The traditional value investor asks 'Is this cheap?' and then 'Why is it cheap?' We start by identifying a reason something might be mispriced, and then if we find a reason why something is likely mispriced, then we make a determination whether it's cheap.

I'm going to reveal the grand secret to getting rich by investing. It's a simple formula that has worked for Warren Buffett, Carl Icahn and all the greatest investment gurus over the years. Ready? Buy low, sell high.

You'd rather have a good headshot that cost you a little more but that's going to last than pay less money for a headshot that's not good enough.

The market is often stupid, but you can't focus on that. Focus on the underlying value of dividends and earnings.

Everybody wants to own quality, but quality takes time, and it takes money.