RIP Charlie Munger

November 28, 2023

Charlie Munger is the most quotable investor ever.

People love to quote others—I get it, and do it myself. Buffett, Templeton, Lynch, Bogle are all great quotes. All worthy of your time.

But there was something unique about Munger. He told you exactly how he felt in exactly the language he wanted too. He didn’t have that corporate polish so to speak.

Basically, he didn’t give a shit!

And the world was better for it.

These are 10 of my favorite Munger quotes of all-time:

  1. Spend each day trying to be a little wiser than you were when you woke up.

  2. The big money is not in the buying and selling, but in the waiting.

  3. People calculate too much and think too little.

  4. Those who keep learning, will keep rising in life.

  5. Passion is more important than brain power.

  6. There is no better teacher than history in determining the future. There are answers worth billions of dollars in a history book.

  7. A majority of life’s errors are caused by forgetting what one is really trying to do.

  8. Live within your income and save so that you can invest.

  9. There is no way you can live an adequate life without making many mistakes.

  10. Do the best you can do. Never tell a lie. If you say you’re going to do it, get it done. Nobody cares about an excuse.

Munger was a combination of common sense, consistency, and contrarian thinking.

I got to see Munger speak at the Berkshire annual meeting in 2019—when he was a spry 95 years old—and the thing I remember most was his stamina.

He spent six hours answering shareholder questions—cracking a new can of coke roughly ever hour and chewed on Sea’s peanut brittle while Buffett answered questions.

How do you do that in your nineties? You got to have an intense passion for life and what you’re doing.

It was inspirational in a way. He spent a considerable portion of his life doing stuff he cared about with people he liked.

Buffett’s quote on Munger’s passing today was perfect:

“Berkshire Hathaway could not have been built to its present status without Charlie’s inspiration, wisdom, and participation.”

He helped build the 7th largest company in the U.S. based in Omaha, Nebraska.

Wow!

RIP Charlie Munger—a life well lived!