Charlie Munger's Best Quotes from Buffett's Annual Letter
Discover some of Charlie Munger's best quotes from Buffett's annual letter, such as the importance of being rational, the power of patience, and the need to see the world as it is. Learn how to use these quotes to make better decisions and live a more fulfilling life.
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Andrew Wilkinson
Co-founder of Tiny w/ @_Sparling_. We own @Dribbble, @AeroPress, and many other wonderful companies. Funding science and journalism at Tiny Foundation.
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Here's a big list of incredible Charlie Munger quotes from Buffett's annual letter.
— Andrew Wilkinson (@awilkinson) March 4, 2023
"The world is full of foolish gamblers, and they will not do as well as the patient investor." -
"If you don't see the world the way it is, it's like judging something through a distorted lens."
— Andrew Wilkinson (@awilkinson) March 4, 2023
"All I want to know is where I'm going to die, so I'll never go there. And a related thought: Early on, write your desired obituary – and then behave accordingly." -
"If you don't care whether you are rational or not, you won't work on it. Then you will stay irrational and get lousy results."
— Andrew Wilkinson (@awilkinson) March 4, 2023
"Patience can be learned. Having a long attention span and the ability to concentrate on one thing for a long time is a huge advantage." -
"You can learn a lot from dead people. Read of the deceased you admire and detest."
— Andrew Wilkinson (@awilkinson) March 4, 2023
"Don't bail away in a sinking boat if you can swim to one that is seaworthy."
"A great company keeps working after you are not; a mediocre company won't do that." -
"Warren and I don't focus on the froth of the market. We seek out good long-term investments and stubbornly hold them for a long time."
— Andrew Wilkinson (@awilkinson) March 4, 2023 -
"Ben Graham said, 'Day to day, the stock market is a voting machine; in the long term it's a weighing machine.' If you keep making something more valuable, then some wise person is going to notice it and start buying."
— Andrew Wilkinson (@awilkinson) March 4, 2023 -
"There is no such thing as a 100% sure thing when investing. Thus, the use of leverage is dangerous. A string of wonderful numbers times zero will always equal zero. Don't count on getting rich twice."
— Andrew Wilkinson (@awilkinson) March 4, 2023
"You don't, however, need to own a lot of things in order to get rich." -
"You have to keep learning if you want to become a great investor. When the world changes, you must change."
— Andrew Wilkinson (@awilkinson) March 4, 2023 -
"Two short sentences by Charlie that have been his decision-clinchers for decades: 'Warren, think more about it. You're smart and I'm right."
— Andrew Wilkinson (@awilkinson) March 4, 2023