Letter to Berkshire Hathaway Shareholders (2022)

2022

Charlie Munger's reflections on Berkshire's success, the power of compounding, and lessons from six decades of investing alongside Warren Buffett.

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Quotes from this source

6 verified quotes

“The world is full of foolish gamblers. They will not do as well as the patient investors.”

“Patience can be learned. Having a long attention span and the ability to concentrate on one thing for a long time is a huge advantage”

“You can learn a lot from dead people. Read of the deceased you admire and detest”

“If you don't care whether you are rational or not, you won't work on it. Then you will stay irrational and get lousy results.”

“If you don't see the world the way it is, it's like judging something through a distorted lens.”

“All I want to know is where I'm going to die, so I'll never go there. And a related thought: Early on, write your desired obituary – and then behave accordingly”