CM
Charlie Munger
10 quotesCharles Thomas Munger • 1924 - 2023
Berkshire Hathaway
Vice Chairman
Investment Philosophy
"Mental models from multiple disciplines, inversion thinking, and avoiding stupidity"
Biography
Charlie Munger was Warren Buffett's longtime business partner and the intellectual force behind Berkshire Hathaway's evolution from cigar-butt investing to buying wonderful businesses. A lawyer by training, Munger brought a multidisciplinary approach to investing, drawing insights from psychology, physics, biology, and history. His concept of 'mental models' and 'latticework of knowledge' has influenced countless investors and business leaders.
Key Achievements
- •Transformed Buffett's investment approach from pure Graham-style value investing
- •Built Daily Journal Corporation into a successful media and software company
- •Pioneered the concept of mental models in investing
- •Served as Berkshire Vice Chairman for over 45 years
Notable Books
- 📚Poor Charlie's Almanack
- 📚Seeking Wisdom: From Darwin to Munger (about him)
Known For
Mental modelsInversion thinkingAvoiding stupidityMultidisciplinary approach
Quotes by Charlie Munger(10)
"A great business at a fair price is superior to a fair business at a great price."
Category: Value Investing
"The big money is not in the buying and selling, but in the waiting."
Category: Long-Term Thinking
"The first rule of compounding: Never interrupt it unnecessarily."
Category: Long-Term Thinking
"Knowing what you don't know is more useful than being brilliant."
Category: Risk Management
"The desire to get rich fast is pretty dangerous."
Category: Risk Management
"Invert, always invert."
Category: Mental Models
"Take a simple idea and take it seriously."
Category: Mental Models
"Spend each day trying to be a little wiser than you were when you woke up."
Category: Mental Models
"The iron rule of nature is: you get what you reward for."
Category: Mental Models
"I think part of the popularity of Berkshire Hathaway is that we look like people who have found a trick. It isn't a trick—it's just avoiding stupidity."
Category: Mental Models