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Charlie Munger Quotes: Proper accounting is like engineering. You need a margin of safety. Thank God we don't design bridges and airplanes the way we do accounting.
         

Proper accounting is like engineering. You need a margin of safety. Thank God we don't design bridges and airplanes the way we do accounting.


Charlie Munger
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Other quotes of Charlie Munger


The best thing a human being can do is to help another human being know more.

The best thing a human being can do is to help another human being know more.



Intelligent people make decisions based on opportunity costs.

Intelligent people make decisions based on opportunity costs.



Mimicking the herd invites regression to the mean.

Mimicking the herd invites regression to the mean.



I did not succeed in life by intelligence. I succeeded because I have a long attention span.

I did not succeed in life by intelligence. I succeeded because I have a long attention span.



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

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



Great investing requires a lot of delayed gratification.

Great investing requires a lot of delayed gratification.



When you locate a bargain, you must ask, 'Why me, God? Why am I the only one who could find this bargain?'

When you locate a bargain, you must ask, 'Why me, God? Why am I the only one who could find this bargain?'



Our job is to find a few intelligent things to do, not to keep up with every damn thing in the world.

Our job is to find a few intelligent things to do, not to keep up with every damn thing in the world.



I believe in the discipline of mastering the best that other people have ever figured out. I don't believe in just sitting down and trying to dream it all up yourself. Nobody's that smart.

I believe in the discipline of mastering the best that other people have ever figured out. I don't believe in just sitting down and trying to dream it all up yourself. Nobody's that smart.



A lot of success in life and business comes from knowing what you want to avoid: early death, a bad marriage, etc.

A lot of success in life and business comes from knowing what you want to avoid: early death, a bad marriage, etc.





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To be 100% at all times is like a mirage in the desert of frustration. Enjoy your conquest and rest your mind. This will never be in vain.

To be 100% at all times is like a mirage in the desert of frustration. Enjoy your conquest and rest your mind. This will never be in vain.




You're talking to someone who has been married to various people for the last 40 years of her life. Dating is not really something familiar. I've never really been a dater.

You're talking to someone who has been married to various people for the last 40 years of her life. Dating is not really something familiar. I've never really been a dater.



The executive branch maneuvered this result deftly.

The executive branch maneuvered this result deftly.



It feels much better to me to think that an artist is working to show his appreciation of what already has been created than creating things himself.

It feels much better to me to think that an artist is working to show his appreciation of what already has been created than creating things himself.



I had made all these rules for myself: I'm not writing social commentary, I'm not writing love songs.

I had made all these rules for myself: I'm not writing social commentary, I'm not writing love songs.



I work out the other bits, too, but I need to know what I look like, very early on. And then it's like a template; I'll fill that person out. If I get that out of the way, then I'm all right.

I work out the other bits, too, but I need to know what I look like, very early on. And then it's like a template; I'll fill that person out. If I get that out of the way, then I'm all right.



There seems a life in hair, though it be dead.

There seems a life in hair, though it be dead.



If you can just convince the dope people that the gun people are right and the gun people that the dope people are right, we could actually live in a lot more freedom.

If you can just convince the dope people that the gun people are right and the gun people that the dope people are right, we could actually live in a lot more freedom.



A man once told me that his dog was half pit bull and half Poodle. He claimed that it wasn't much good as a guard dog, but it was a vicious gossip.

A man once told me that his dog was half pit bull and half Poodle. He claimed that it wasn't much good as a guard dog, but it was a vicious gossip.




Quote Description


This page presents the quote "Proper accounting is like engineering. You need a margin of safety. Thank God we don't design bridges and airplanes the way we do accounting.". Author of this quote is Charlie Munger. This quote is about way, accounting, safety, engineering, design, airplane, bridges, thank god,.