Worldly Wisdom

Acquire worldly wisdom and adjust your behavior accordingly. If your new behavior gives you a little temporary unpopularity with your peer group then to hell with them.
— Charlie Munger

on sharing knowledge

The best thing a human being can do is to help another human being know more.
— Charlie Munge (on sharing knowledge)

On how to avoid 50% losses in the future

"It's in the nature of stock markets to go way down from time to time. There's no system to avoid bad markets. You can't do it unless you try to time the market, which is a seriously dumb thing to do. Conservative investing with steady savings without expecting miracles is the way to go." - Charlie Munger (On how to avoid 50% losses in the future)

on newspapers

"Ordinary newspapers will come to perish. The microeconomics are too tough to overcome. It's not a place to invest your money." - Charlie Munger (on newspapers)

adapting to peak oil

"The world will adapt to higher oil prices, because it has to. It won't be the end of the world. Even at $200 a barrel, we'd be fine. People would adapt [mentions smaller cars, electric cars, solar power]. We have an enormous power to adapt." - Charlie Munger (On adapting to peak oi)

ethanol

"Ethanol is quite possibly the stupidest thing ever invented by rational people. The ultimate social safety  net -- which is a very good idea, by the way -- is cheap food, and ethanol production is destroying this. It was a monstrously stupid idea like I haven't seen before." - Charlie Munger (on ethanol)

how inflation will impact investing

"I remember the $0.05 hamburger and a $0.40-per-hour minimum wage, so I've seen a tremendous amount of inflation in my lifetime. Did it ruin the investment climate? I think not." - Charlie Munger (on  how inflation will impact investing)