What Charlie Munger thinks about investing

@charlie-munger · 50 positions · 0 changes of mind

Warren Buffett's business partner and vice chairman of Berkshire Hathaway; also chaired Wesco Financial Corporation from 1984 to 2011, where he wrote its annual letters himself.

Everything they publish, on ppll ↗

Charlie Munger did not write this page.

We collected these quotes from things they published elsewhere, and every quote links to where it was said. They have no account here and have not endorsed this site. Quotes are word for word; the short line under each one is our own restatement, not their wording. Their own site. Is this you? Claim it or ask us to remove it. Or tell us what is wrong here.

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Only Charlie Munger on investing. See everyone on investing

2 dated positions, c. 1994, in their own words. Our reading of what Charlie Munger has said — not written or endorsed by them.

2 positions so far — this page is not yet offered to search engines.

1. c. 1994

   Our readingThe wise bet heavily when the world offers them the odds, and not the rest of the time

   Their wordsAnd the wise ones bet heavily when the world offers them that opportunity. They bet big when they have the odds. And the rest of the time, they don’t.

   ↗A Lesson on Elementary Worldly Wisdom As It Relates To Investment Management & Business (USC Business School, 1994)fs.blog 11th of 13 in this piece

3. c. 1994

   Our readingOver the long term a stock is hard put to earn a much better return than the business underneath it earns

   Their wordsOver the long term, it’s hard for a stock to earn a much better return than the business which underlies it earns. If the business earns 6% on capital over 40 years and you hold it for that 40 years, you’re not going to make much different than a 6% return—even if you originally buy it at a huge discount.

   ↗A Lesson on Elementary Worldly Wisdom As It Relates To Investment Management & Business (USC Business School, 1994)fs.blog 13th of 13 in this piece