Charlie Munger Quotes About Reality

Quotes about: Reality

• Recognize reality even when you don't like it-especially when you don't like it.

  Charlie Munger

  Reality

• You need to have a passionate interest in why things are happening. That cast of mind, kept over long periods, gradually improves your ability to focus on reality. If you don't have the cast of mind, you're destined for failure even if you have a high I.Q.

  Charlie Munger

  Passion, Intelligent, Reality

• I have a name for people who went to the extreme efficient market theory-which is "bonkers". It was an intellectually consistent theory that enabled them to do pretty mathematics. So I understand its seductiveness to people with large mathematical gifts. It just had a difficulty in that the fundamental assumption did not tie properly to reality.

  Charlie Munger

  Reality, Names, Ties

• Chris Davis [of the Davisfunds] has a temple of shame. He celebrates the things they did that lost them a lot of money. What is also needed is a temple of shame squared for things you didn't do that would have made you rich. Forgetting your mistakes is a terrible error if you are trying to improve your cognition. Reality doesn't remind you. Why not celebrate stupidities in both categories?

  Charlie Munger

  Mistake, Reality, Errors

• There has never been a master plan. Anyone who wanted to do it, we fired because it takes on a life of its own and doesn't cover new reality. We want people taking into account new information.

  Charlie Munger

  Reality, People, Want

  Charlie Munger's opening speech at the 2004 Wesco Financial Annual Meeting, www.tilsonfunds.com. May 5, 2004.

• We only want what success we can get despite encouraging others to share our general view about reality.

  Charlie Munger

  Reality, Views, Want

  "Diversification is bunk" by Charlie Munger, www.pionline.com. March 20, 2000.

• I think that one should recognize reality even when one doesn't like it; indeed, especially when one doesn't like it.

  Charlie Munger

  Reality, Thinking, Investing

• I'm used to people with very high IQs knowing how to recognize reality, but there's a huge human tendency where it may be instructive to think that whatever you're doing to succeed is all right.

  Charlie Munger

  Reality, Thinking, Knowing

• If you turn on the television, you'll find the mothers of the most obvious criminals that man could ever diagnose, and they all think their sons are innocent. That's simple psychological denial. The reality is too painful to bear, so you just distort it until it's bearable. We all do that to some extent, and it's a common psychological misjudgment that causes terrible problems.

  Charlie Munger

  Mother, Son, Simple

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