Charlie Munger's Lesson On Life & Success Goes Viral After Legendary Investor Dies At 99; Check His Inspirational Quotes Here

Charlie Munger's Lesson On Life & Success Goes Viral After Legendary Investor Dies At 99; Check His Inspirational Quotes Here

"It's so simple to spend less than you earn, and invest shrewdly, and avoid toxic people and toxic activities, and try and keep learning all your life, and do a lot of deferred gratification. If you do all those things, you are almost certain to succeed. If you don't, you're going to need a lot of luck."

Oliviya KunjumonUpdated: Wednesday, November 29, 2023, 11:58 AM IST
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Charlie Munger | New York Stock Exchange

Charlie Munger, well-known for his close association and partnership with the esteemed American investor Warren Buffett, passed away on Tuesday at the age of 99.

Renowned for his sharp thinking in investments and business, Charlie Munger leaves behind a profound legacy of wisdom. After the legendary investor passing on Tuesday, one of his notable quotes emphasizing the significance of living within one's means has gained widespread attention across the internet.

Here is what the quote reads:

"It's so simple to spend less than you earn, and invest shrewdly, and avoid toxic people and toxic activities, and try and keep learning all your life, and do a lot of deferred gratification. If you do all those things, you are almost certain to succeed. If you don't, you're going to need a lot of luck."

Charlie Munger Quote

Charlie Munger Quote |

Charlie Munger, the prominent business partner of investor Warren Buffett, conveyed a straightforward yet powerful message through one of his quotes, shedding light on the principles of success.

Charlie Munger's message is clear and emphasizes the significance of making thoughtful choices. His quote conveys;

If you spend less money than you make, make smart decisions with your money, stay away from bad people and bad activities, keep learning new things all your life, and are patient about getting what you want, you'll probably succeed. But if you don't follow these things, you might need a lot of luck to be successful. Basically, Munger is saying that being careful with your choices, learning always, and being patient can make success more likely in life.

Here are some of Charlie Munger's most intriguing quotes, offering valuable investing lessons and words of wisdom:

Charlie Munger's most intriguing quotes

Charlie Munger's most intriguing quotes |

1) "Every time you hear EBITDA, just substitute it with bulls."

2) "The first rule is not to lose. The second rule is not to forget the first rule."

3) "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. We're not looking for mismanagement, even if we can withstand it." 

4) "If you're not willing to react with equanimity to a market price decline of 50% two or three times a century, you're not fit to be a common shareholder and you deserve the mediocre result you're going to get."

5) "The best thing a human being can do is to help another human being know more."

6) "All intelligent investing is value investing, acquiring more than you are paying for. You must value the business in order to value the stock."

7) “Somebody my age has lived through the best and easiest period that ever happened in the history of the world — the lowest death rates, the highest investment production, biggest increases in most people’s standards of living. If you’re unhappy with what you’ve had over the last 50 years, you have an unfortunate misappraisal of life.”

8) “What do you think a derivatives trading desk is? It’s a casino in drag.” 

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