It is one thing to think gold has some marvelous store of value because man has no way of inventing more gold or getting it very easily, so it has the advantage of rarity. Believe me, man is capable of somehow creating more bitcoin... They tell you there are rules and they can't do it. Don't believe them.

Charlie Munger

It's remarkable how much long-term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very intelligent.

Charlie Munger

A great business at a fair price is superior to a fair business at a great price.

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

I believe Costco does more for civilization than the Rockefeller Foundation. I think it's a better place. You get a bunch of very intelligent people sitting around trying to do good, I immediately get kind of suspicious and squirm in my seat.

Charlie Munger

It is one thing to think gold has some marvelous store of value because man has no way of inventing more gold or getting it very easily, so it has the advantage of rarity. Believe me, man is capable of somehow creating more bitcoin... They tell you there are rules and they can't do it. Don't believe them.

Charlie Munger

That's the last thing on Earth you should think about... There's just a whole lot of things that aren't going to work for you. Figure out what they are and avoid them like the plague. And one of them is bitcoin... It is total insanity.

Charlie Munger

People are trying to be smart - all I am trying to do is not to be idiotic, but it's harder than most people think.

Charlie Munger

I think people who multitask pay a huge price. They think they're being extra productive, and I think when you multitask so much you don't have time to think about anything deeply, you are giving the world an advantage you shouldn't do, and practically everybody is drifting into that mistake.

Charlie Munger

Who would want one's children growing up buying things like bitcoin? I hope to God my family doesn't buy it. It's noxious poison.

Charlie Munger

The first rule is that you can't really know anything if you just remember isolated facts and try and bang 'em back. If the facts don't hang together on a latticework of theory, you don't have them in a usable form.

Charlie Munger

I love when I think we're taking territory - if it makes sense in the long term, we just don't give a damn what it looks like in the short term. After all, we're running a cult, not a normal company.

Charlie Munger

It's a real pleasure to earn the trust of your customers slowly over time by doing what's right.

Charlie Munger

Economics profession, they've been - they've been confident in various formulas, but economics is not physics. The same formula that works in one decade doesn't work in the next. Economics is a difficult subject.

Charlie Munger

Wall Street has too much wealth and political power.

Charlie Munger

I'm a great admirer of the Trump change of mind about China and making an ally out of China instead of screaming about their trade.

Charlie Munger

I will say this: I know no wise person who doesn't read a lot. I suspect that you can read on the computer now and get a lot of benefit out of it, but I doubt that it'll work as well as reading print worked for me.

Charlie Munger

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

You need a different checklist and different mental models for different companies.

Charlie Munger

Look at this generation, with all of its electronic devices and multitasking. I will confidently predict less success than Warren, who just focused on reading.

Charlie Munger

Alternatives to gold and currency and to make a big speculative vehicle - I never considered for one second having anything to do with it. I detested it the minute it had been raised.

Charlie Munger