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 buddycopedanger share on social
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 allowbankerborrow Change image and share on social
When someone takes their existing business and tries to transform it into something else - they fail. In technology that is often the case. Look at Kodak: it was the dominant imaging company in the world. They did fabulously during the great depression, but then wiped out the shareholders because of technological change. Charlie Munger businesscasechange share on social
There's more honor in investment management than in investment banking. Charlie Munger bankhonorinvestment Change image and share on social
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 highhugehuman Change image and share on social
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 badberkshireend Change image and share on social
Wall Street has too much wealth and political power. Charlie Munger politicalpowerstreet Change image and share on social
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 bunchcivilizationcostco share on social
Gold is a great thing to sew into your garments if you're a Jewish family in Vienna in 1939, but I think civilized people don't buy gold, they invest in productive businesses. Charlie Munger businessbuycivilize Change image and share on social
The perfect example of Darwinism is what technology has done to businesses. Charlie Munger businessdarwinismperfect Change image and share on social