As you already know Warren Buffett has been very present in this blog since its inception. However, Buffett does not work alone, but a large part of his success comes from a person who has accompanied him in recent decades who is much less known by the general public. This person, Warren Buffett's right hand man, is Charlie Munger. In this article I will show you a summary of the life of Charlie Munger, his investing style and a small selection of his famous quotes.
Tabla de contenido
- value investing, acquire more than you are paying. ”
"The idea of safety margin, the precept of Graham, it will never be obsolete. The idea of making the market your servant will never be out of date. The idea of being objective and unflappable will never be out of date. So Graham had many wonderful ideas. "
"The beta and the modern character theory they don't make sense to me. "
"We are looking for a horse that has a 50% chance of winning and is paid 3 to 1."
Charlie Munger on avoiding mistakes
"Much of your success in life and in business comes from knowing what you want to avoid: premature death, a failed marriage, etc."
Charlie Munger on good business
“The reinsurance business has the defect of being too attractive to new competitors due to its positive characteristics and therefore it will always tend to be the opposite of, for example, the old business of collecting and disposing of dead horses, which always tends to contain few prosperous participants. "
Charlie Munger on the importance of reading
“In all my life I have not met wise people who did not read all the time. None. Zero."
Charlie Munger on the importance of rational thinking
“Being rational is a moral imperative. It is dishonorable to be stupider than you have to be. "
"Without numerical fluency, you're like a one-legged person in a butt-kicking championship."
"There is nothing better to destroy rational thinking than a great deal of easily earned money."
Charlie Munger on the importance of curiosity
“You have to have a passionate interest in knowing why things happen. This way of thinking, held for long periods of time, gradually improves your ability to focus on reality. If you don't have this way of thinking, you are destined to fail even if you have a high IQ. "
Recommended sources and articles on Charlie Munger
- The Lessons of Warren Buffett's Right Hand
- Charlie Munger and some of his pearls of wisdom
- If you're having a hard time right now, you should know the story of Charlie Munger
- Charlie Munger Quotations(English)
- 30 of Charlie Munger’s best quotes(English)