A Quote by Charlie Munger
I regard the amount of brainpower going into money management as a national scandal. When some idiot would get rich, they'd say, 'Well, old Charlie was out in the field playing the big brass tuba on the day it rained gold.' A lot of people have become rich lately who were playing the tuba on the day it rained gold.
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I don't play the tuba. The tuba plays me. My tuba is not actually a tuba, because it has never produced a musical sound. It is actually a giant frog pretending to be a tuba.
And it rained a fever. And it rained a silence. And it rained a sacrifice. And it rained a miracle. And it rained sorceries and saturnine eyes of the totem.
I remember once walking out hand in hand with a boy I knew, and it was summer, and suddenly before us was a field of gold. Gold as far as you could see. We knew we'd be rich forever. We filled our pockets and our hair. We were rolled in gold. We ran through the field laughing and our legs and feet were coated in yellow dust, so that we were like golden statues or golden gods. He kissed my feet, the boy I was with, and when he smiled, he had a gold tooth. It was only a field of buttercups, but we were young.
And it rained a screaming. And it rained a rawness. And it rained a plasma. And it rained a disorder.
In all the thrashing about that results from our dwindling gold reserves, it's about time that this country and other countries get some perspective on the situation. The day this country is out of the stuff, that day gold becomes what it's worth as a metal and no longer will have much significance as a monetary measurement. It isn't the gold we have that makes this nation rich. It's what we make, our knowhow, our productivity. So long as this country produces more and better, the world will continue to want what we make.
We get these questions a lot from the enterprising young. It's a very intelligent question: You look at some old guy who's rich and you ask, 'How can I become like you, except faster?'
Spend each day trying to be a little wiser than you were when you woke up. Discharge your duties faithfully and well. Step by step you get ahead, but not necessarily in fast spurts. But you build discipline by preparing for fast spurts... Slug it out one inch at a time, day by day, at the end of the day -- if you live long enough -- most people get what they deserve.
Partying is not a sane way to spend money, but it's fun. When we were young, we did not have a lot of money at all, so I thought, 'If I ever get rich, I'm not going to become one of those boring rich people who doesn't spend money.'
My treasure chest is filled with gold.
Gold . . . gold . . . gold . . .
Vagabond's gold and drifter's gold . . .
Worthless, priceless, dreamer's gold . . .
Gold of the sunset . . . gold of the dawn . . .Gold of the showertrees on my lawn . . .
Poet's gold and artist's gold . . .
Gold that can not be bought or sold -
Gold.
The Democrats say the rich are rich because they stole all of their money or somehow fleeced the poor for all of their money. "If it weren't for these cheating, skunk, lying, rich people, you poor people would have the money! You remember when you had this, right? You remember when you had that house on the beach and your Rolls-Royce, and then one day some rich guy came over and stole it all from you? You remember that? So you want to vote for Obama and the Democrats to get your house back and your Rolls-Royce 'cause you remember when Koch brothers came and took it from you."
The obsession with gold, actually and politically, occurs among those who regard economics as a branch of morality. Gold is solid, gold is durable, gold is rare, gold is even (in certain very peculiar circumstances) convertible. To believe in thrift, solidity and soundness is to believe in some way in the properties of gold.
Sometimes I think that all mankind exist but to be bought and sold: The rich man's paramour is gold, the poor man's goddess, gold, gold, gold.
Involve yourself every day. Work hard and figure out how to love acting all day, every day. It's getting into a made-up situation and making it good and making it real and just playing, just practicing and playing. Like the musicians that I played piano with: they never expect to be rich or famous, but they, for the sheer joy of it, play every day, all day.
I speak with a lot of players who have stopped playing and they go to the gym for two hours a day and say 'now I run 10km a day.' When they were still playing they would complain about running for 10 minutes!
Sir, money, money, the most charming of all things; money, which will say more in one moment than the most elegant lover can in years. Perhaps you will say a man is not young; I answer he is rich. He is not genteel, handsome, witty, brave, good-humored, but he is rich, rich, rich, rich, rich -that one word contradicts everything you can say against him.
Gold is unique because it has the age-old aspect of being viewed as a store of value. Nevertheless, it’s still a commodity and has no tangible value, and so I would say that gold is a speculation. But because of my fear about the potential debasing of paper money and about paper money not being a store of value, I want some exposure to gold.
Miners produce the bullion. If there is going to be more demand for gold from investors and central banks, where is the gold going to come from? They have to dig it out of the ground and sell it. As the price of gold goes higher, their profit margins increase. So if you are very bullish like I am and think there is going to be a big increase in gold, it's a huge opportunity for miners.
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