Author: Charlie Munger

Quotes

A banker who is allowed to borrow money at X and loan it out at X plus Y will just go crazy and do too much of it if the civilization doesn't have rules that prevent it.

A banker who is allowed to borrow money at X and loan it out at X plus Y will just go crazy and do too much of it if the civilization doesn't have rules that prevent it.

- Charlie Munger

Wells Fargo had a glitch - the truth of the matter is they made a business judgement that was wrong. I don't think anything is fundamentally wrong.

Wells Fargo had a glitch - the truth of the matter is they made a business judgement that was wrong. I don't think anything is fundamentally wrong.

- Charlie Munger

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

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

- Charlie Munger

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

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

- Charlie Munger

There's more honor in investment management than in investment banking.

There's more honor in investment management than in investment banking.

- 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.

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'm proud to be associated with the value system at Berkshire Hathaway; I think you'll make more money in the end with good ethics than bad.

I'm proud to be associated with the value system at Berkshire Hathaway; I think you'll make more money in the end with good ethics than bad.

- Charlie Munger

Everyone has the idea of owning good companies. The problem is that they have high prices in relations to assets and earnings, and that takes all of the fun out of the game.

Everyone has the idea of owning good companies. The problem is that they have high prices in relations to assets and earnings, and that takes all of the fun out of the game.

- Charlie Munger

The perfect example of Darwinism is what technology has done to businesses.

The perfect example of Darwinism is what technology has done to businesses.

- Charlie Munger

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