“I constantly see people rise in life who are not the smartest, sometimes not even the most diligent, but they are learning machines. They go to bed every night a little wiser than when they got up and boy does that help—particularly when you have a long run ahead of you.” - 2007 USC Law School Commencement Address
“A man who jumps out of a building is OK until he hits the ground.” - 2023 Berkshire Hathaway annual meeting
“A lot of people with high IQs are terrible investors because they’ve got terrible temperaments. And that is why we say that having a certain kind of temperament is more important than brains. You need to keep raw irrational emotion under control. You need patience and discipline and an ability to take losses and adversity without going crazy. You need an ability to not be driven crazy by extreme success.” - Kiplinger interview, 2005
“Invert, always invert: Turn a situation or problem upside down. Look at it backward.” - Poor Charlie’s Almanack
“You’ll do better if you have passion for something in which you have aptitude. If Warren Buffett had gone into ballet, no one would have heard of him.” – Berkshire Hathaway annual meeting, 2008
“Invest in a business any fool can run, because someday a fool will. If it won’t stand a little mismanagement, it’s not much of a business.” - Poor Charlie’s Almanack
“It’s so simple. You spend less than you earn. Invest shrewdly, and avoid toxic people and toxic activities, and try and keep learning all your life, etcetera etcetera. And do a lot of deferred gratification because you prefer life that way. And if you do all those things you are almost certain to succeed. And if you don’t, you’re gonna need a lot of luck.” - Poor Charlie’s Almanack
“The best armor of old age is a well spent life preceding it.” – Tao of Charlie Munger: A Compilation of Quotes from Berkshire Hathaway’s Vice Chairman on Life, Business, and the Pursuit of Wealth With Commentary by David Clarkhis
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