Charlie Munger, Warren Buffett’s right-hand man, passed away earlier today. He was 99. Charlie was an investing legend and he was active until the very end. In fact, he was on a podcast just a few weeks ago as shown above. What a full life he has lived! He has a lot of very wise quotes all over the internet. I also recommend this audio book if you have long boring commutes. Here are a few quotes that popped into my mind after hearing this news:
A great business at a fair price is superior to a fair business at a great price.
It's insane to take excessive risks on money you need in order to make more money you don't really need.
Secret to a happy life: lower your expectations. Happiness is reality minus expectations. The lower your expectations are, the happier you will be.
The world is not driven by greed. It’s driven by envy. I have conquered envy in my own life. I don’t envy anybody. I don’t give a damn what someone else has. But other people are driven crazy by it.
Thank you for sharing your wisdom with all of us, Mr. Munger. May you rest in peace.