Last Updated on 4 months by Antony C.
Charlie Munger is the legendary investor and trusted partner of Warren Buffett. At the time of his death on the 28 Nov 2023 at the age of 99 (1924 – 2023), Munger had an estimated net worth of $2.6 billion and was ranked as the 1182nd richest person in the world.
Throughout the years he had shared his profound insights through his speech, interviews and annual meetings and documented in the book, “Tao of Charlie Munger“.
Each quote holds a valuable lesson that can deepen our understanding of investing, life, success, learning, and reading. Here, we will explore some of the best Charlie Munger quotes and uncover the wisdom they encompass.
Charlie Munger Quotes on Investing
1. “The big money is not in the buying and selling… but in the waiting.” – Charlie Munger
Charlie tells us that successful investing requires patience and resisting the urge for constant activity.
Activity does not equal to profits.
By adopting a long-term perspective, we can benefit from the power of compounding.
Waiting allow our investments to grow steadily over time.
2. “Great investing requires delayed gratification.” – Charlie Munger
Take it slow and steady.
True investing success comes from making informed decisions based on careful analysis.
And not seeking immediate rewards.
By exercising discipline and avoiding impulsive actions, Charlie advice us that we should make well-thought-out investment choices that yield better long-term results.
3. “Opportunity comes to the prepared mind.” – Charlie Munger
Be prepare, be ready.
Being prepared and equip with the right knowledgeable creates an environment where opportunities can be recognized and seized.
Always continuously expanding our knowledge and staying informed about the markets and investment opportunities.
Charlie advice us that only by being prepared, we can increase our chances of identifying valuable prospects.
Charlie Munger Quotes on Life
4. “It’s remarkable how much long-term advantage people like us have gained by consistently avoiding stupidity rather than trying to be overly intelligent.” – Charlie Munger
Be humble, be patient.
In life, focusing on avoiding mistakes and making rational decisions can lead to long-term success. At the age of 99 years old, Charlie Munger have shown us how this works.
By recognizing our limitations and consistently making sensible choices, we can achieve significant advantages.
5. “If you have integrity and act honorably, you will succeed. Eliminate foolishness and avoid negative influences. Teach your grandchildren by setting a positive example. Fix yourself.” – Charlie Munger
Stop pointing fingers, start fixing yourself first!
Personal integrity and ethical behavior are crucial factors in achieving success.
- Cultivating strong moral values
- Eliminating detrimental habits
- Surrounding ourselves with positive influences
Charlie Munger ask us to always leading by example. By fixing ourselves, we can inspire future generations to follow a virtuous and honorable path.
6. “I’ve seen intelligent people recognize reality, but it’s common for them to believe that whatever they’re doing to succeed is right.” – Charlie Munger
Intelligence alone does not guarantee success.
Charlie ask us torecognize and confront our biases, avoiding complacency in our beliefs and actions.
Always questioning our strategies and seeking diverse perspectives.
Let’s adapt, grow, and navigate life’s complexities effectively.
Charlie Munger Quotes on Learning
7. “Knowing what you don’t know is more valuable than being brilliant.” – Charlie Munger
Be humble, don’t be the smartest in the room.
Understanding our limitations and acknowledging gaps in our knowledge allows us to approach learning with humility.
Embrace a growth mindset and actively seek to expand our knowledge.
Charlie advice us to open ourselves up to continuous learning and personal development.
8. “Wisdom begins with acknowledging what you don’t know.” – Charlie Munger
You don’t know what you don’t know.
True wisdom starts with recognizing that there is always more to learn.
Humbly accept our unknowns and strive to fill those gaps. Even at the age of 99, Charlie is always embarking on a journey of wisdom and lifelong learning.
9. “I constantly witness people rise in life who may not be the smartest or most diligent, but they are perpetual learners. They go to bed each night a little wiser than when they woke up, and that helps, especially for the long run.” – Charlie Munger
Your superpower is your willingness to learn!
Continuous learning is the key to personal and professional growth. Charlie tell us to consistently learn new knowledge. Even in small increments, we accumulate wisdom that propels us forward.
Read the book “Start Small, Dream Big“? You’ll know what this quote mean after you read the book.
Being a learner becomes particularly advantageous when we have a long journey ahead of us.
Charlie Munger Quotes on Reading
10. “To truly know something, you must connect isolated facts within a framework. Facts without context and theory are limited in their usefulness.” – Charlie Munger
Don’t just start to analyze when you get only half the picture, only start to analyze after you get the full picture.
Reading with a critical mindset involves connecting facts within a broader framework of understanding.
Always look for books and materials that provide context and theories. With that we can enhance our comprehension and apply knowledge more effectively.
11. “Reading is a better teacher than history in determining the best ways to apply previous wisdom to the present.” – Charlie Munger
Books are the key to the future.
Through reading, we gain access to the accumulated wisdom of the past, enabling us to apply it to current situations.
Charlie ask us to read more. Books offer valuable lessons and insights that can guide us in making informed decisions and navigating the complexities of life. It give us the power to peek into the future.
12. “Reading a book with a couple of legs sticking out is like trying to dream without sleeping.” – Charlie Munger
Merely skimming the surface of a book or reading selectively limits the depth of understanding we can gain.
When you want to read, be fully immersing ourselves in a book, exploring its content comprehensively.
Only by fully commit ourselves into the book, it allows us to absorb its wisdom and experience its transformative power.
It’s Time To Include Charlie Munger’s Wisdom into Our Own Life
Charlie Munger’s quotes on investing, life, success, learning, and reading serve as a reservoir of wisdom and guidance.
I’ve always respect Charlie Munger and love his humor.
His book “Tao of Charlie Munger” is probably one of the most impactful “must have” book for anyone who want to learn from the wisdom of a 99 year old billionaire.
While I only get to know Charlie Munger through his books and interviews, I greatly admire him who is a man of extraordinary intellect and wisdom.
He is a legend that ingeniously combined the intricacies of investing with the simplicity of common sense, profoundly shaping the world of finance and the lives of many.
Charlie Munger’s legacy will go on for decades, and I thank him from the bottom of my heart for all the wisdom that he shares.
Charlie Munger is probably one of the greatest mentor in the modern human history.
Charlie, Thankyou for your wisdom.
And if you are a fan of Charlie like me, you may want to watch this last interview with Charlie and learn from this amazing mentor and philanthropist that have helped millions of aspiring investors.
Want to be a 99 year old billionaire yourself?
Let us draw inspiration from Charlie Munger’s insights and apply them to our own journeys of self-improvement and success.
If you are interested in quotes like these, check out these other quotes:
- Tao of Charlie Munger Book Summary (Investing, Life and Wealth)
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Antony C.
Founder & Financial Writer at Income Buddies | Website | Posts by Author
Antony C. is a dividend investor with over 15+ years of investing experience. He’s also the book author of “Start Small, Dream Big“, certified PMP® holder and founder of IncomeBuddies.com (IB). At IB, he share his personal journey and expertise on growing passive income through dividend investing and building online business. Antony has been featured in global news outlet including Yahoo Finance, Nasdaq and Non Fiction Author Association (NFAA).
