Charlie Munger Quotes on Investing
About Charlie Munger
Billionaire investor, attorney, and vice chairman of Berkshire Hathaway. As Warren Buffett’s key partner, he shaped its philosophy and promoted rational thinking through mental models. Known for ethical investing, philanthropy, modest living, and sharp wit, Munger influenced finance, education, and architecture.
Analysis
Foundational knowledge is about understanding the established rules, while wisdom from experience is about recognizing when those rules don't apply. True mastery comes from understanding the context and exceptions that only time and practice can teach.
Action Items
- Master the foundational principles of your craft before trying to break them.
- Seek real-world experience to learn the limits and exceptions to the rules.
- Learn from experienced mentors who can teach you practical, hard-won wisdom.