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50 Charlie Munger Quotes About Wealth and Life

Joel Brown (Founder of Addicted2Success.com)

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Charlie Thomas Munger is an American business, philanthropist, and investor who works alongside with Warren Buffet as chairman of Berkshire Hathaway. He is also chairman of Daily Journal Corp and director of Costco Wholesale Corperation.

Charlie Munger’s net-worth is estimated to be $1.52 billion

 

Inspirational Charlie Munger quotes

1. “Assume life will be really tough, and then ask if you can handle it. If the answer is yes, you’ve won.” – Charlie Munger

2. “Being smart and doing something that no one has done before are two different things.” – Charlie Munger

3. “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.” – Charlie Munger

4. “When you borrow a man’s car, always return it with a tank of gas.” – Charlie Munger

5. “There’s only one way to the top: hard work.” – Charlie Munger

6. “The difference between a good business and a bad business is that good businesses throw up one easy decision after another. The bad businesses throw up painful decisions time after time.” – Charlie Munger

7. “Part of what you must learn is how to handle mistakes and new facts that change the odds. Life, in part, is like a poker game, wherein you have to learn to quit sometimes when holding a much loved hand.” – Charlie Munger

8. “I believe in the discipline of mastering the best that other people have ever figured out. I don’t believe in just sitting down and trying to dream it all up yourself. Nobody’s that smart.” – Charlie Munger

9. “Smart people do dumb things.” – Charlie Munger

10. “Our game is to recognize a big idea when it comes along, when one doesn’t come along very often. Opportunity comes to the prepared mind.” – Charlie Munger

11. “I would argue that passion is more important than brain power.” – Charlie Munger

12. “Do what you like and are good at.” – Charlie Munger

13. “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.” – Charlie Munger

14. “Invert, always invert: Turn a situation or problem upside down. Look at it backward.” – Charlie Munger

15. “Remember that reputation and integrity are your most valuable assets and can be lost in a heartbeat.” – Charlie Munger

16. “We just keep our heads down and handle the headwinds and tailwinds as best we can, and take the result after a period of years.” – Charlie Munger

17.“We’re emphasizing the knowable by predicting how certain people and companies will swim against the current. We’re not predicting the fluctuation in the current.” – Charlie Munger

18. “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

19. “Three rules for a career: 1. Don’t sell anything you wouldn’t buy yourself; 2. Don’t work for anyone you don’t respect and admire; and 3. Work only with people you enjoy.” – Charlie Munger

20. “The big money is not in the buying and selling. But in the waiting.” – Charlie Munger

21. “Almost all good businesses engage in pain today for gain tomorrow activities.” – Charlie Munger

22. “I think that one should recognize reality even when one doesn’t like it; indeed, especially when one doesn’t like it.” – Charlie Munger

23. “It takes character to sit with all that cash and to do nothing. I didn’t get top where I am by going after mediocre opportunities.” – Charlie Munger

24. “Instead of looking for success, make a list of how to fail instead. Tell me where I’m going to die, that is, so I don’t go there.” – Charlie Munger

25. “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

26. “It is really useful to be reminded of your errors. I think Warren Buffett and I are pretty good at that. We do kind of mentally rub our own noses in our own mistakes. And that is a very good mental habit.” – Charlie Munger

27. “The best thing a human being can do is to help another human being know more.” – Charlie Munger

28. “The best armor of old age is a well-spent life preceding it.” – Charlie Munger

29. “You must value the business in order for you to value the stock.” – Charlie Munger

30. “If you tell the truth, you don’t have to remember your lies.” – Charlie Munger

31. “Generally speaking, envy, resentment, revenge, and self-pity are disastrous modes of thought. Self-pity gets fairly close to paranoia, and paranoia is one of the very hardest things to reverse. You do not want to drift into self-pity. Self-pity will not improve the situation.” – Charlie Munger

32. “My habit of committing far more time to learning and thinking than to doing is no accident.” – Charlie Munger

33. “When any guy offers you a chance to earn lots of money without risk, don’t listen to the rest of his sentence. Follow this, and you’ll save yourself a lot of misery.” – Charlie Munger

34. “Obviously if you want to get good at something which is competitive, you have to think about it and practice a lot. You have to keep learning because the world keeps changing and competitors keep learning.” – Charlie Munger

35. “Someone will always be getting richer faster than you. This is not a tragedy.” – Charlie Munger

36. “We both, Warren Buffett and I, insist on a lot of time being available almost every day to just sit and think. That is very uncommon in American business. We read and think.” – Charlie Munger

37. “Choose clients as you would friends.” – Charlie Munger

38. “I think track records are very important. If you start trying to have a perfect one in a simple thing like honesty, you’re well on your way to success in this world.” – Charlie Munger

39. “Spend less than you make; always be saving something.” – Charlie Munger

40. “The iron rule of nature is: you get what you reward for. If you want ants to come, you put sugar on the floor.” – Charlie Munger

41. “Very-high-IQ people can be completely useless. And many of them are.” – Charlie Munger

42. “No wise pilot, no matter how great his talent and experience, fails to use his checklist.” – Charlie Munger

43. “Being an effective teacher is a high calling.” – Charlie Munger

44. “Move only when you have an advantage. It’s very basic. You have to understand the odds and have the discipline to bet only when the odds are in your favor.” – Charlie Munger

45. “If you always tell people why, they’ll understand it better, they’ll consider it more important, and they’ll be more likely to comply.” – Charlie Munger

46. “A great business at a fair price is superior to a fair business at a great price.” – Charlie Munger

47. “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.” – Charlie Munger

48. “You don’t have to be brilliant, only a little bit wiser than the other guys, on average, for a long, long time.” – Charlie Munger

49. “I try to get rid of people who always confidently answer questions about which they don’t have any real knowledge.” – Charlie Munger

50. “We all are learning, modifying, or destroying ideas all the time. Rapid destruction of your ideas when the time is right is one of the most valuable qualities you can acquire. You must force yourself to consider arguments on the other side.” – Charlie Munger

 

Charlie Munger success tips

 

What was your favourite Charlie Munger Quote? Leave the quote in the comments section below.

I am the the Founder of Addicted2Success.com and I am so grateful you're here to be part of this awesome community. I love connecting with people who have a passion for Entrepreneurship, Self Development & Achieving Success. I started this website with the intention of educating and inspiring likeminded people to always strive for success no matter what their circumstances.I'm proud to say through my podcast and through this website we have impacted over 200 million lives in the last 10 years.

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  1. sithirailingam

    May 21, 2017 at 12:21 pm

    Great Sharing! Good Quotes collection from Charlie Munger keep it up

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6 Inspiring Quotes From Lucille Ball That Will Motivate You to Stand Out and Reach for the Stars

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The original “Queen of Comedy” Lucille “Lucy” Ball, continues to be an icon of fiery sass and humor for every generation. Her timeless comedic talent still sets the standard for those desiring to follow in her celebrated entertainment footsteps.

Here are six inspiring quotes from her that will motivate you to stand out from the crowd and never give up on your dreams:

1. “One of the things I learned the hard way, was that it doesn’t pay to get discouraged. Keeping busy and making optimism a way of life can restore your faith in yourself.”

In business and our personal lives, we are bombarded daily by outward criticism and inward self-doubt. In order to realise the success we strive for and attain the goals we hope to achieve, it’s important to practice a strong positive outlook.

Although Ball was known for being an inherently shy girl, when she was 15 years old, she convinced her mom to allow her to attend New York Drama School. The administrator of the school, unable to see the talent hidden behind the shyness, wrote to her mother telling her not to “waste her money and the school’s time with this shy, awkward young lady.”

Refusing to be deterred by the shortsighted criticism, Ball dug in her heels, overcame her shyness, and went on to become the talented comedic actress and icon we know and love today. Just imagine how unfortunate it would have been if she had taken the negative criticism to heart and decided to give up her passion.

2. “Luck? I don’t know anything about luck. I’ve never banked on it and I’m afraid of people who do. Luck to me is something else: Hard work—and realising what is opportunity and what isn’t.”

Today, we are very much conditioned to expect instant gratification in all areas of life. It’s important to remember, however, that true personal and professional success is achieved through tenacity and hard work. Very seldom does “luck” play a substantial role in building a solid and promising future.

Few people may realise that beyond the laughter and crazy shenanigans that Ball is so well known for, she was a trailblazing businesswoman who mapped out her professional path and keenly took advantage of opportunities that came her way.

Behind the scenes, she was co-creator, owner, and partner of Desilu Productions with her husband, Desi Arnaz. I Love Lucy was the first real sitcom developed by a husband and wife team, and under Desilu Studios, the show pioneered the multi-camera shot and filmed in front of a live audience—something no one else was doing at the time.

Being a female owner of a film production company in the 1960s was unprecedented. But, Ball didn’t stop there. Instead, she would eventually buy out Desi and become the first female CEO of a major television and movie production company. Her hard work and perseverance created a legacy to last for generations.

3. “I’d rather regret the things I have done than the things that I haven’t.”

Regrets are a fact of life both personally and professionally. However, most of us would probably admit that we learned some valuable things about ourselves from past mistakes and mishaps. Most would agree that our biggest regrets are related to the opportunities and experiences that we didn’t seize when we had the chance.

Ball’s career in the entertainment world was full of various ups and downs that included many B movies and lackluster performances. However, she continued to forge ahead learning from each and every experience. She was forty years old when she finally hit her stride and began her journey with I Love Lucy. Ball didn’t let the fact that Hollywood considered her to be “old” to stop her from fulfilling her dreams.

Instead of letting the long road of disappointments and closed doors discourage her, Ball refused to give up and found a way to create her own destiny and achieve the success that she had worked so hard for.

4. “I dyed my hair this crazy red to bid for attention. It has become a trademark, and I’ve got to keep it this way.”

We live in a culture where most of us just want to fit in. There is a pressure to conform to a set of expectations in both our professional and personal lives. However, it’s often when we take a risk to set ourselves apart, that doors of opportunities and experiences open for us.

For example, Ball’s natural hair colour was a light to medium brown with reddish tones. Early in her career, she bleached it blonde in hopes of being able to compete with the plethora of bombshell blondes of the era. She eventually realised, however, she needed to stand out, not blend in!

In a past interview, Ball is quoted stating, “Not being a beauty, I hated any part in a picture which depended on beauty. I resented work where looks were that important. There are so many glamour girls that I felt it was silly for me to try to compete with them.”

Dyeing her natural brown hair the colour red was one of the greatest risks Ball took early in her career, but it became one of the late comedian’s most beautiful physical features that helped her stand out and succeed in Hollywood. She shared, “I had to learn to concentrate on developing my personality—to have an individual approach. The way you feel about yourself has a lot to do with the impression you make.”

5. “The more things you do, the more you can do.”

We should never stop striving to learn new skills and grow in knowledge. Taking the steps to constantly evolve in our understanding of our professional and personal life—as well as the world around us—helps build a firm foundation for our present and future.

Ball was a true pioneer for the women of her time. She was not afraid to tackle new things or learn more about the production and business side of her career even though she was encroaching on a man’s world at the time. She knew that any knowledge she gained about the entertainment business would help ensure her future success.

For example, behind the scenes, Ball was an integral part of the business operations of Desilu Productions. She was one of the final voices in all decisions made regarding the show and the production company. And it didn’t stop there. In front of the camera, she portrayed a determined woman diligently trying to work outside of the home in various careers while still tackling the responsibilities of being a housewife and a mother. To put it simply, she just wasn’t scared to try something new.

It’s important to not let fear of failure, or the unknown, deter us from taking chances to break the mould and step out of our comfort zone. The possibilities for growth, success, and achievement are endless.

6. “Love yourself first and everything else falls into line. You really have to love yourself to get anything done in this world.”

It’s quite profound how much we can learn from the fortitude and spunk exuded from Lucille Ball, the “Queen of Comedy.” As we’ve seen through these quotes, Ball refused to let others dictate who she would become or what she would achieve. Instead, she had a firm grasp on her own self-worth and was determined to forge ahead to fulfill her dreams.

She demonstrated that self-confidence and inner strength are vital to professional and personal success—a lesson that we would all be wise to remember.

Which one of the above Lucille Ball quotes was your favorite and why? Share your thoughts with us below!

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