Charlie Munger the Vice Chairman of Berkshire Hathaway

The entrepreneur of the day is Charlie Munger. He is the vice chairman of Berkshire Hathaway and is Warren Buffett’s business partner. Charlie Munger has a net worth of $2.2 BILLION dollars.

Below are top Charlie Munger quotes.

1. I would argue that passion is more important than brainpower.

2. I constantly see people rise in life who are not the smartest, sometimes not even the most diligent, but they are learning machines. They go to bed every night a little wiser than they were when they got up and boy does that help, particularly when you have a long run ahead of you.

3. Knowing what you don’t know is more useful than being brilliant.

4. A great business at a fair price is superior to a fair business at a great price.

5. The iron rule of nature is: you get what you reward for. If you want ants to come, you put sugar on the floor.

6. In my whole life, I have known no wise people (over a broad subject matter area) who didn’t read all the time — none, zero. You’d be amazed at how much Warren reads — and at how much I read. My children laugh at me. They think I’m a book with a couple of legs sticking out.

7. You’re looking for a mispriced gamble. That’s what investing is. And you have to know enough to know whether the gamble is mispriced. That’s value investing.

8. I think that a life properly lived is just learn, learn, learn all the time.

9. Don’t sell anything you wouldn’t buy yourself.

10. The best armour of old age is a well spent life perfecting it.

11. Invert, always invert: Turn a situation or problem upside down. Look at it backward.

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