In this blog post, we’ll delve into the mind of this enigmatic figure, exploring the wit of Charlie Munger that has captured the attention and admiration of investors, entrepreneurs, and intellects alike.
In a world filled with financial moguls and investment gurus, one name stands out for his unbridled wit and wisdom: Charlie Munger. As the vice chairman of Berkshire Hathaway and Warren Buffett’s long-time business partner, Munger has earned a reputation not only for his incredible investing insight but also for his keen sense of humor and insightful aphorisms.
Often dubbed the “Philosopher King of Finance,” Munger’s words carry a depth and profundity that resonate far beyond the boardroom. His unique combination of sharp intellect, self-deprecating humor, and timeless wisdom offers invaluable business, investing, and life lessons. So please grab a cup of coffee, sit back, and prepare to be entertained and enlightened as we explore the wit and wisdom of the inimitable Charlie Munger.
Jealousy
“I have a friend whose grandmother used to say that she couldn’t understand why people got into envy-jealousy because it was the only one of the sins that you could never possibly have any fun at. But generally speaking, on Wall Street I think a lot of people have had the wrong kind of grandmothers.”- Charlie Munger
“Envy is a really stupid sin because it’s the only one you could never possibly have any fun at. There’s a lot of pain and no fun. Why would you want to get on that trolley?” – Charles T. Munger
Business
“I think few business operations have ever been constructed to require so little continuing intelligence in corporate headquarters.” – Charlie Munger
“If you mix the mathematics of the chain letter or the Ponzi scheme with some legitimate development, like the development of the internet, you are mixing something which is wretched and irrational and has bad consequences with something that has very good consequences. But, you know, if you mix raisins with turds, they’re still turds” – Charlie Munger
Berkshire Hathaway
“An idiot who was willing just to sit here would have a very good record long after the present incumbents were dead. I think it would be unreasonable to expect that a successor would be as good at making new investments as Warren has been in the past. Well, that’s just too damn bad.” – Charlie Munger
“I would rather throw a viper down my shirtfront than hire a compensation consultant.” – Charlie Munger
“Our situation in looking for this help reminds me of an apocryphal tale about Mozart. And a young man of 25 or so once asked to see Mozart, and he said, “I’m thinking of starting to write symphonies, and I’d like to get your advice.”And Mozart said, “Well, you’re too young to write symphonies.”
And the guy says, “But you were writing them when you were ten years old.” And Mozart says,
“Yes, but I wasn’t asking anybody else for advice how to do it.” So if you remind yourself of young Mozart, why, you’re the man for us.” – Charlie Munger
“Competency is a relative concept. And what a lot of us need, including the one speaking, is — what I needed to get ahead was to compete against idiots, and luckily there’s a large supply. If people weren’t so often wrong, we wouldn’t be so rich.” – Charlie Munger
Success
“You want to develop a good character and good mental habits, and you want to learn from your mistakes, every single one, as you go along. And of course, you particularly want to avoid evil, or seriously irrational people, particularly if they are attractive members of the opposite sex. It can lead to a lot of trouble.” – Charlie Munger
“In my whole life, I have known no wise people (over a broad subject matter area) who didn’t read all the time — none, zero. You’d be amazed at how much Warren reads–and at how much I read. My children laugh at me. They think I’m a book with a couple of legs sticking out.” – Charlie Munger
“What you don’t want to be is like the man, when they held his funeral, and the minister said, “Now, it’s the time for somebody to say something nice about the deceased.” And nobody came forward. He said, “Surely, somebody can say somebody — something nice — about the deceased.” And nobody came forward. And finally, one man came up. And he said, “Well,” he said, “His brother was worse.” – Charlie Munger
“To get what you want, you have to deserve what you want. The world is not yet a crazy enough place to reward a whole bunch of undeserving people.” – Charlie Munger
“Spend each day trying to be a little wiser than you were when you woke up. Day by day, and at the end of the day-if you live long enough-like most people, you will get out of life what you deserve.” – Charlie Munger
Key Takeaways
As we conclude our exploration of Charlie Munger’s wit, several essential lessons stand out, offering valuable guidance to investors, entrepreneurs, and individuals alike. Munger’s wisdom transcends the financial realm, providing timeless insights into human nature, relationships, and personal growth.
- Avoid envy and jealousy: Munger highlights these emotions’ futility and self-destructive nature, emphasizing the importance of focusing on growth and accomplishments.
- Appreciate the simplicity of good business: Munger’s aphorisms emphasize the value of clear, straightforward strategies and avoiding unnecessary complexity.
- Learn from your mistakes: As Munger suggests, the road to success involves developing good character and mental habits and embracing the lessons learned from failure.
- Surround yourself with competent individuals: Munger’s anecdotes stress the significance of surrounding oneself with capable and rational people, avoiding those who can lead to trouble.
- Continuous learning is vital: Munger and Buffett’s voracious reading habits testify to the importance of lifelong learning and knowledge accumulation.
- Deserve what you want: Munger advocates for hard work, personal growth, and perseverance in pursuing success, emphasizing the need to deserve the rewards one seeks.
- Consistent improvement: Get a little better every day.
By embracing these key takeaways from the wit and wisdom of Charlie Munger, we can strive to lead more successful, fulfilling lives, both in business and beyond.
