Charlie Munger Quotes On Investing:
There’s danger in just shoveling out money to people who say, ‘My life is a little harder than it used to be.’ At a certain place you’ve got to say to the people, ‘Suck it in and cope, buddy. Suck it in and cope.’
Charlie Munger
Gold is a great thing to sew into your garments if you’re a Jewish family in Vienna in 1939, but I think civilized people don’t buy gold, they invest in productive businesses.
Charlie Munger
I’m used to people with very high IQs knowing how to recognize reality, but there’s a huge human tendency where it may be instructive to think that whatever you’re doing to succeed is all right.
Charlie Munger
When someone takes their existing business and tries to transform it into something else – they fail. In technology that is often the case. Look at Kodak: it was the dominant imaging company in the world. They did fabulously during the great depression, but then wiped out the shareholders because of technological change.
Charlie Munger
If all you needed to do is to figure out what company is better than others, everyone would make a lot of money. But that is not the case. They keep raising the prices to the point when the odds change.
Charlie Munger