Warren Buffett and Charlie Munger like to share their philosophies on life and investing. And because of this, they have many interesting quotes that we would like to share with you today.
Five of our favorites include:
- In regards to looking at the glass half-full – when Charlie Munger was asked about the insurance premiums for older adults, and why healthy elders have to pay more money in insurance, he said “you find you’re not deteriorating as fast as your contemporaries. You may be paying an unfair price for your auto insurance, but it’s a good trade-off.”
- In regards to picking a spouse – Munger said, “Look for someone with low expectations.”
- In regards to being liked – the two men were asked by a young boy how they get people to like them. Charlie Munger said, “Get very rich and generous.” And then Warren Buffett added, “People see all sorts of virtue when you’re writing a check.”
- In regards to philanthropy – when Warren Buffett was asked about pledging to donate 99% of his wealth, he said “There’s no Forbes 400 in the graveyard.” And then he added more about his equity holdings having “no utility to me, but have enormous utility around the world.”
- In regards to succeeding – “We’ve now watched a lot of other people get started. The ones who follow [Benjamin] Graham have done pretty well.” And continued Munger, “Avoid being a perfect idiot.”