- Renowned investor Charlie Munger passed away at the age of 99, leaving behind a legacy of strong opinions and valuable advice.
- Munger was a staunch critic of cryptocurrency, famously calling it “absolutely crazy, stupid gambling.”
- Despite his criticisms, Munger offered practical advice on investing and life, emphasising principles like prudence, deferred gratification, and lifelong learning.
Naturally, the crypto community isn’t always accommodating to those who take on a staunchly anti-blockchain mentality. But occasionally, a hater is so strong on their convictions that you can’t help but admire them. Charlie Munger, perhaps best-known for his long-time association with billionaire Warren Buffet, passed away last night, aged 99. His long and storied career involved working with the multinational company Berkshire Hathaway, where he built a fortune of his own. However, he will be long remembered for his hilarious one-liners and strong, stubborn opinions.
Charlie Munger’s Best One-Liners
Charlie Munger’s career is filled with quotable statements and side-splitting comparisons. Here are some of the best:
- Perhaps his most subdued statement on cryptocurrency was calling it “absolutely crazy, stupid gambling”.
- “People who oppose my position [on crypto] are idiots. It’s just ridiculous that people would buy this stuff. I’m not proud of my country for allowing this crypto-crap-o…crypto sh**”.
Cryptocurrency wasn’t the only thing Charlie had a strong opinion about
- “To say derivative accounting in America is a sewer is an insult to sewage.”
- Munger once compared investment bankers to “heroin addicts”.
- “Every time you hear EBITDA, just substitute it with bullsh**”.
Munger’s Advice for Life
Although Charlie Munger spent a lot of time deriding the things he opposed, he also touted a series of investment (and life) principles that have touched many of his fans.
Author and entrepreneur John LeFevre called them “simple and perfect”.
- Spend less than you earn
- Invest prudently
- Avoid toxic people and toxic activities
- Defer gratification
- Never stop learning
Rest in peace Charlie Munger.
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