Charlie Munger Death: 10 best Mungerisms to help us sail through life
Charlie Munger’s devotees did not hear a lot from him, but when the billionaire spoke, his words were sure to inspire
Charlie Munger, the longtime friend and business partner of investor Warren Buffett, died on Tuesday, November 28. He was 99. "Berkshire Hathaway could not have been built to its present status without Charlie's inspiration, wisdom and participation," Buffett said in a statement after his death.
Back in 1978, Munger joined Buffett at Berkshire Hathaway as vice chairman. Under Munger, the small textile company eventually transformed into a massive conglomerate. At present, it is valued at more than $780 billion. Munger, who never officially retired from Berkshire Hathaway, would have turned 100 years old in January next year.
How Charles Munger inspired with his intelligence and wit
Munger’s devotees did not hear a lot from him, but when the billionaire spoke, his words were sure to inspire. Munger’s quotations and comments are called ‘Mungerisms.’
Here are 10 Charlie Munger quotes to help us in life:
- “I don’t spend much time regretting the past, once I’ve taken my lesson from it. I don’t dwell on it.”
- “Opportunity cost is a huge filter in life. If you’ve got two suitors who are really eager to have you and one is way the hell better than the other, you do not have to spend much time with the other. And that’s the way we filter out buying opportunities.”
- “In my whole life, nobody has ever accused me of being humble. Although humility is a trait I much admire, I don’t think I quite got my full share.”
- “Determine value apart from price; progress apart from activity; wealth apart from size.”
- “The best armour of old age is a well spent life preceding it.”
- “The world is not driven by greed. It’s driven by envy. I have conquered envy in my own life. I don’t envy anybody. I don’t give a damn what someone else has. But other people are driven crazy by it.”
- “Someone will always be getting richer faster than you. This is not a tragedy.”
- "You're not going to get very far in life on the basis of what you already know. You're going to advance in life by what you're going to learn."
- “Our ideas are so simple that people keep asking us for mysteries when all we have are the most elementary ideas.”
- “I’m not entitled to have an opinion unless I can state the arguments against my position better than the people who are in opposition. I think that I am qualified to speak only when I’ve reached that state.”