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Charlie Munger Quotes: So, economics should emulate physics' basic ethos, but its search for precision in physics-like formulas is almost always wrong in economics.
         

So, economics should emulate physics' basic ethos, but its search for precision in physics-like formulas is almost always wrong in economics.


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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It's one thing to give out excellent advice, but quite another to personally swallow it.

It's one thing to give out excellent advice, but quite another to personally swallow it.




If this is not done, future ages will certainly look back upon us as a people so immersed in the pursuit of wealth as to be blind to higher considerations.

If this is not done, future ages will certainly look back upon us as a people so immersed in the pursuit of wealth as to be blind to higher considerations.



If they aren't real enough to surprise me, then they aren't real enough to go on the page.

If they aren't real enough to surprise me, then they aren't real enough to go on the page.




Every bees hony is sweet.

Every bees hony is sweet.



It is possible to care too much. It is possible to believe that you will never be as good as anyone else. And it is possible to let these things take over.

It is possible to care too much. It is possible to believe that you will never be as good as anyone else. And it is possible to let these things take over.



So much love, too much love, it is our madness, it is rotting us out, exploding us like dandelion polls.

So much love, too much love, it is our madness, it is rotting us out, exploding us like dandelion polls.



Prosperity engenders sloth.

Prosperity engenders sloth.



Helpless lust and unreasoning anxiety were just part of growing up.

Helpless lust and unreasoning anxiety were just part of growing up.




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This page presents the quote "So, economics should emulate physics' basic ethos, but its search for precision in physics-like formulas is almost always wrong in economics.". Author of this quote is Charlie Munger. This quote is about emulate, ethos, economics, precision, always wrong, physics, formulas,.