Charlie Munger Quotes About Hell

Quotes about: Hell

• You have to know accounting. It's the language of practical business life. It was a very useful thing to deliver to civilization. I've heard it came to civilization through Venice which of course was once the great commercial power in the Mediterranean. However, double entry bookkeeping was a hell of an invention.

  Charlie Munger

  Business, Power, Civilization

• Acquire worldly wisdom and adjust your behavior accordingly. If your new behavior gives you a little temporary unpopularity with your peer group then to hell with them.

  Charlie Munger

  Giving, Littles, Groups

• No CEO examining books today understands what the hell is going on.

  Charlie Munger

  Book, Today, Hell

• In the corporate world, if you have analysts, due diligence, and no horse sense, you've just described hell.

  Charlie Munger

  Horse, World, Due Diligence

• Opportunity cost is a huge filter in life. If you've got two suitors who are really eager to have you and one is way the hell better than the other, you do not have to spend much time with the other. And that's the way we filter out buying opportunities.

  Charlie Munger

  Opportunity, Two, Filters

  "Afternoon Session - 1997 Meeting". buffett.cnbc.com. May 5, 1997.

• If you took our top fifteen decisions out, we'd have a pretty average record. It wasn't hyperactivity, but a hell of a lot of patience. You stuck to your principles and when opportunities came along, you pounced on them with vigor.

  Charlie Munger

  Money, Opportunity, Average

• The definition of hell in the legal system is: endless due process and no justice; (in the corporate world) it would be: endless due diligence and no horse sense.

  Charlie Munger

  Horse, Justice, Would Be

• Fancy computers are engaging in legalized front-running. The profits are clearly coming from the rest of us - our college endowments and our pensions. Why is this legal? What the hell is the government thinking? It's like letting rats into a restaurant.

  Charlie Munger

  Running, College, Thinking

• It's a finite and very competitive world. All large aggregations of capital eventually find it hell on earth to grow and thus find a lower rate of return.

  Charlie Munger

  World, Earth, Return

• How could economics not be behavioral? If it isn't behavioral, what the hell is it?

  Charlie Munger

  Investing, Hell, Economics

• The beauty of a financial institution is that there are a lot of ways to go to hell in a bucket. You can push credit too far, do a dumb acquisition, leverage yourself excessively - it's not just derivatives [that can bring about your downfall].

  Charlie Munger

  Dumb, Buckets, Acquisition

• Over the long term, it's hard for a stock to earn a much better return that the business which underlies it earns. If the business earns six percent on capital over forty years and you hold it for that forty years, you're not going to make much different than a six percent return - even if you originally buy it at a huge discount. Conversely, if a business earns eighteen percent on capital over twenty or thirty years, even if you pay an expensive looking price, you'll end up with one hell of a result.

  Charlie Munger

  Years, Long, Twenties

• Berkshireis not as good as it was in terms of percentage compounding [going forward], but it's still a hell of a business.

  Charlie Munger

  Hell, Percentages, Term

• I regard it as very unfair, but capitalism without failure is like religion without hell.

  Charlie Munger

  Hell, Unfair, Capitalism

• Once you get into debt, it’s hell to get out. Don’t let credit card debt carry over. You can’t get ahead paying eighteen percent.

  Charlie Munger

  Over You, Cards, Credit

  "4 Steps To Getting Rich From Warren Buffett's Right-Hand Man" by Chuck Saletta, www.businessinsider.com. May 31, 2013.

• And maybe the cereal makers by and large have learned to be less crazy about fighting for market share-because if you get even one person who's hell-bent on gaining market share.... For example, if I were Kellogg and I decided that I had to have 60% of the market, I think I could take most of the profit out of cereals. I'd ruin Kellogg in the process. But I think I could do it.

  Charlie Munger

  Crazy, Fighting, Thinking

• Everyone caved, adopted loose [accounting] standards, and created exotic derivatives linked to theoretical models. As a result, all kinds of earnings, blessed by accountants, are not really being earned. When you reach for the money, it melts away. It was never there. It [accounting for derivatives] is just disgusting. It is a sewer, and if I'm right, there will be hell to pay in due course. All of you will have to prepare to deal with a blow-up of derivative books.

  Charlie Munger

  Blessed, Book, Blow

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