fancy-computers-legalized-profits-clearly-rest-us-college-endowments-pensions

Fancy computers are engaging in legalized front-running. The profits are clearly coming from the rest of us - our college endowments and our pensions. Why is this legal? What the hell is the government thinking? It's like letting rats into a restaurant.

Charlie Munger
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Charlie Munger's Popular Quotes

I don't have too much interest in teaching other people how to get rich. And that isn't because I fear the competition or anything like that - Warren…

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

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We don't have any miraculous way of avoiding taxes at Wesco and Berkshire.

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You don't have to be brilliant, only a little bit wiser than the other guys, on average, for a long, long, time.

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Opportunity comes to the prepared mind.

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For years I have read the morning paper and harrumphed. There's a lot to harrumph about now.

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The big money is not in the buying and selling ... but in the waiting.

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It is remarkable how much long-term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very intell…

- Charlie Munger

Those who will not face improvements because they are changes, will face changes that are not improvements.

- Charlie Munger
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