The folksy wit of Charlie Munger in 8 memorable quotes

Charlie Munger, the longtime vice chair of Berkshire Hathaway, has died at 99. Once described by Bill Gates as “the broadest thinker I have ever encountered,” Munger seemed largely content to let his friend and business partner Warren Buffett absorb the spotlight at Berkshire’s annual shareholder gatherings in Omaha, where he was famous for saying “I have nothing to add” after Buffett fielded question after question from investors.

But Munger was no wallflower. In particular, at annual shareholder meetings of the Daily Journal Corp., the newspaper publishing company he chaired from 1977 through 2022, Munger was known to hold court and put his folksy wit and whimsy on display.

Look back with us at some of his notable, quotable commentary about life, business, and the only person besides Buffett he ever claimed to trust with his money.

On cryptocurrencies, back in 2018

“To me, it’s just dementia. It’s like somebody else is trading turds and you decide you can’t be left out.”

On Elon Musk, back in 2019

“I haven’t the faintest idea how Elon Musk will turn out, but he has a considerable chance of success and considerable chance of failure. He seems to like it that way.”

On Donald Trump’s ascendance to the White House, back in 2017

“He’s not wrong on everything. And just because he isn’t like us, roll with it. If there’s a little danger, what the hell, you’re not going to live forever anyway.”

On how the UK would cope with Brexit

“It just strikes me as a horrible problem and I’m glad it’s theirs, not mine.”

On why Sarah Bush Johnston Lincoln is one of the historical figures he admired most

“You know who deserves the credit for Abraham Lincoln, and never gets it? His stepmother.”

On the art of selecting a spouse

“We all know people who are outmarried—their spouses are so much better. Think what a good decision that was for them, and what a lucky decision. Way more important than money. And a lot of them did it when they were young. Just stumbled into it. Now—you don’t have to stumble into it. You can be very careful. A lot of people are wearing signs: Danger, Danger, do not touch. And people just charge right ahead. That’s a mistake.”

On why he started investing with money manager Li Lu in the mid-aughts

“He’s partly a Chinese Warren Buffett. That really helps. Partly, he’s fishing in China—not in this over-searched, over-populated, highly competitive American market.”

On the value of surrounding yourself with people who are more successful than you

“If this gives you a little temporary unpopularity with your peer group, the hell with ’em.”