Charlie Munger

Vice chairman of Berkshire Hathaway, 1978–2023

Recorded said elsewhere, not written here
Life will have terrible blows, horrible blows, unfair blows. Doesn't matter. And some people recover and others don't. And there I think the attitude of Epictetus is the best. He thought that every mischance in life was an opportunity to behave well. Every mischance in life was an opportunity to learn something and your duty was not to be submerged in self-pity, but to utilize the terrible blow in a constructive fashion.

USC Gould School of Law commencement, Speakola, 2007 source ↗

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Mario Molina Atmospheric chemist; Nobel laureate in Chemistry, 1995
At first the research did not seem to be particularly interesting – I carried out a systematic search for processes that might destroy the CFCs in the lower atmosphere, but nothing appeared to affect them. We knew, however, that they would eventually drift to sufficiently high altitudes to be destroyed by solar radiation. The question was not only what destroys them, but more importantly, what the consequences are.
Recorded Laureate-written autobiography, provided by the laureate in November 2007, Nobel Prize Outreach, 1 November 2007 source ↗
Adam Peaty British swimmer; Olympic champion 2016 and 2021
When I lost that 100m final I spiralled. I went quite aggressive. It is an Adam I don't really recognise.
Recorded BBC Sport, 24 July 2024 source ↗
Larry Ellison American businessman
Oh, absolutely. I think most overachievers are driven, not so much by the pursuit of success, but by the fear of failure. Unless failure gets very close and very nearby that fear doesn’t reach profound levels, but it drives us. It drives me to work very hard.
Recorded Academy of Achievement, Academy of Achievement interview, San Francisco, California, 1 May 1997 source ↗
Robert Ballard American oceanographer who discovered the wreck of the RMS Titanic in 1985
People not believing me. It's getting a little easier, but it's funny how people will say, "I don't think you can do that." Then you do it, and they say "That was great" and you say, "Well, I've got this other idea." "Naw, I don't think you can do that." So you do it again. When I said I was going to find the Titanic , no one believed it. When I said I was going to find the Bismarck , everyone believed it, and then I failed in my first attempt to find the Bismarck . So people expect you to succeed, but they don't want to stick their own necks out, and so risk-taking can be very lonely at times. You know that classic saying, which is very true: "Failure is an orphan, but success has many fathers." I'll tell you, when I'm most at risk, I look around, and there are not a whole lot of people there. But as soon as I succeed, they say, "We were always there." And I say, "Yeah, but 500 miles behind me."
Recorded Academy of Achievement interviewer, Academy of Achievement interview, San Diego, California, 1 May 1991 source ↗

More from Charlie Munger

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Question What is an unusual habit or small pleasure you are oddly fond of? Daily life
All my life, I've gone through life anticipating trouble. And here I am, well along on my eighty-fourth year, and like Epictetus, I've had a favored life. It didn't make me unhappy to anticipate trouble all the time and be ready to perform adequately if trouble came. It didn't hurt me at all. In fact, it helped me.
Recorded USC Gould School of Law commencement, Speakola, 2007 source ↗
Question What are you unwilling to optimise? Values & belief
The highest form that civilization can reach is a seamless web of deserved trust. Not much procedure, just totally reliable people correctly trusting one another. That's the way an operating room works at the Mayo Clinic. If a bunch of lawyers were to introduce a lot of process, the patients would all die. So never forget, when you're a lawyer, that you may be rewarded for selling this stuff, but you don't have to buy it. In your own life, what you want is a seamless web of deserved trust. And if your proposed marriage contract has forty-seven pages, my suggestion is you not enter.
Recorded USC Gould School of Law commencement, Speakola, 2007 source ↗

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