Charlie Munger Quotes About Management

Quotes about: Management

• Harvard and Yale concentrated with venture capitalists that got the best calls and brainpower. Very few firms made most of the money, and they made it in just a few periods. Everyone else returned between mediocre and lousy. When returns happened, envy rippled through institutional money management. The amount invested in venture capital went up 10 times post-1999. That later money was lost very quickly. It will happen again. I don't know anyone who successfully resists this stuff. It becomes a new orthodoxy.

  Charlie Munger

  Yale, Envy, Venture Capitalists

• Understanding how to be a good investor makes you a better business manager and vice versa.

  Charlie Munger

  Decision, Understanding, Vices

  Muppets ask questions and experts answer, 25iq.com. September 21, 2012.

• I regard the amount of brainpower going into money management as a national scandal. When some idiot would get rich, they'd say, 'Well, old Charlie was out in the field playing the big brass tuba on the day it rained gold.' A lot of people have become rich lately who were playing the tuba on the day it rained gold.

  Charlie Munger

  People, Gold, Tubas

• The general systems of money management [today] require people to pretend to do something they can't do and like something they don't. It's a terrible way to spend your life, but it's very well paid.

  Charlie Munger

  People, Today, Way

  Charlie Munger's investment advice at the 2003 Berkshire Hathaway Annual Meeting, www.tilsonfunds.com. May 3, 2003.

• A Lesson on Elementary, Worldly Wisdom As It Relates To Investment Management & Business

  Charlie Munger

  Lessons, Management, Investment

• It's natural that you'd have more brains going into money management. There are so many huge incomes in money management and investment banking - it's like ants to sugar. There are huge incentives for a man to take up money management as opposed to, say, physics, and it's a lot easier.

  Charlie Munger

  Men, Brain, Income

  Charlie Munger's comments on money managers at the 2001 Wesco Financial Annual Meeting, www.tilsonfunds.com. May 2, 2001.

• In investment management today, everybody wants not only to win, but to have a yearly outcome path that never diverges very much from a standard path except on the upside. Well, that is a very artificial, crazy construct. That's the equivalent in investment management to the custom of binding the feet of Chinese women

  Charlie Munger

  Crazy, Winning, Feet

• I think the reason why we got into such idiocy in investment management is best illustrated by a story that I tell about the guy who sold fishing tackle. I asked him, "My God, they're purple and green. Do fish really take these lures?" And he said, "Mister, I don't sell to fish." Investment managers are in the position of that fishing tackle salesman.

  Charlie Munger

  Thinking, Fishing, Purple

  "A Lesson on Elementary, Worldly Wisdom as it Relates to Investment Management and Business". Charlie Munger's lecture to the students at the University of Southern California in Los Angeles, 1994.

• 'Crowd folly', the tendency of humans, under some circumstances, to resemble lemmings, explains much foolish thinking of brilliant men and much foolish behavior - like investment management practices of many foundations represented here today. It is sad that today each institutional investor apparently fears most of all that its investment practices will be different from practices of the rest of the crowd.

  Charlie Munger

  Men, Thinking, Practice

  "Charlie Munger: The Complete Investor". Book by Tren Griffin, September 15, 2015.

• It's human nature to extrapolate the recent past into the future, but it's terrible that managements go along with this.

  Charlie Munger

  Past, Management, Human Nature

• The hedge fund known as "Long Term Capital Management" collapsed last fall through overconfidence in its highly leveraged methods, despite I.Q.'s of its principals that must have averaged 160. Smart people aren't exempt from professional disasters from overconfidence. Often, they just run aground in the more difficult voyages they choose, relying on their self-appraisals that they have superior talents and methods.

  Charlie Munger

  Running, Smart, Fall

• Good businesses can survive a little bad management.

  Charlie Munger

  Littles, Management, Good Business

• There's more honor in investment management than in investment banking.

  Charlie Munger

  Honor, Banking, Management

• It's my guess that something like 5% of GDP goes to money management and itsattendant friction. I define it broadly - annuities, incentive pay, all trading, etc. Nobody else has used figures that high, but that's my guess. Worst of all, the people doing this are among the best and the brightest. Hundreds and thousands of engineers, etc. are going into hedge funds and investment banking. That is not an intelligent allocation of the brainpower of the civilization.

  Charlie Munger

  Intelligent, Gdp, Civilization

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