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Charlie Munger Quotes: [With] closet indexing....you're paying a manager a fortune and he has 85% of his assets invested parallel to the indexes. If you have such a system, you're being played for a sucker.
         

[With] closet indexing....you're paying a manager a fortune and he has 85% of his assets invested parallel to the indexes. If you have such a system, you're being played for a sucker.


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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Friends can become enemies, and enemies can become friends. Ego and pride can turn what is good into bad, and kind words can turn what is bad into something good.

Friends can become enemies, and enemies can become friends. Ego and pride can turn what is good into bad, and kind words can turn what is bad into something good.



I climb the door instead of a treeJust to crawl with myself walking freeWhat if I’m a lizard beneath my skinChanging my colours of the human I’ve been

I climb the door instead of a treeJust to crawl with myself walking freeWhat if I’m a lizard beneath my skinChanging my colours of the human I’ve been



Man is not the creature of circumstances Circumstances are the creatures of men.

Man is not the creature of circumstances Circumstances are the creatures of men.



Every time the light turns green, stay in the thick of competition.

Every time the light turns green, stay in the thick of competition.



When asked in his late 90s if his doctor knew he still smoked, Burns said, 'No ... he's dead.'

When asked in his late 90s if his doctor knew he still smoked, Burns said, 'No ... he's dead.'



Medical research is "immoral even it it's essential."

Medical research is "immoral even it it's essential."



All these people, all these things came into my life, and they're all blessings from God. And now that I look back, I realize that these are His fingerprints all over my story.

All these people, all these things came into my life, and they're all blessings from God. And now that I look back, I realize that these are His fingerprints all over my story.



The answer is surprisingly simple. Just do right. Live an honorable life.

The answer is surprisingly simple. Just do right. Live an honorable life.



Humble living does not diminish. It fills. Going back to a simpler self gives wisdom.

Humble living does not diminish. It fills. Going back to a simpler self gives wisdom.




Quote Description


This page presents the quote "[With] closet indexing....you're paying a manager a fortune and he has 85% of his assets invested parallel to the indexes. If you have such a system, you're being played for a sucker.". Author of this quote is Charlie Munger. This quote is about being played, assets, indexing, sucker, fortune,.