Charlie Munger Comments on Investing

The late investing legend discusses investing

Author's Avatar
Dec 22, 2023
  • Munger quotes on investing
Article's Main Image

“Investing is where you find a few great companies and then sit on your ass.” Berkshire Hathaway's 2000 Shareholder Meeting

“The investment game is getting more and more competitive.”

“An investment decision in the common stock of a company frequently involves a whole lot of factors interacting … the one thing that causes the most trouble is when you combine a bunch of these together, you get this lollapalooza effect.”

“It's not given to human beings to have such talent that they can just know everything all the time. But it is given to human beings who work hard at it – who look and sift the world for a mispriced bet – that they can occasionally find one. And the wise ones bet keenly when the world offers that opportunity. They bet big when they have the odds. And the rest of the time, they don't. It's just that simple.”

“If (investing) weren't a little difficult, everybody would be rich.”
To us, investing is the equivalent of going out and betting against the pari-mutuel system. We look for a horse with one chance in two of winning, and that pays three to one. In other words, we're looking for a mispriced gamble. That's what investing is, and you have to know enough to know whether the gamble is mispriced.”

Berkshire Hathaway VP Charlie Munger (Trades, Portfolio) Talks Investing on CNBC: Feb. 15, 2019


I/we have no positions in any stocks mentioned, and have no plans to buy any new positions in the stocks mentioned within the next 72 hours. Click for the complete disclosure