Charlie Munger was one of the most successful and respected investors of our time.
Munger was obsessed with reading and read 10-20 books a WEEK.
Here are 25 reading quotes from him:
1) “In my whole life, I have known no wise people (over a broad subject matter area) who didn’t read all the time – none, zero.”
2) “As long as I have a book in my hand, I don’t feel like I’m wasting time.”
3) “Most books I don’t read past the first chapter. I’m not burdened by bad books.”
4) “I don’t think you can get to be a really good investor over a broad range without doing a massive amount of reading. I don’t think any one book will do it for you.”
5) "Develop into a lifelong self-learner through voracious reading; cultivate curiosity and strive to become a little wiser every day.”
6) "It's been my experience in life if you just keep thinking and reading you don't have to work."
7) “If it’s wisdom you are after, you are going to spend a lot of time sitting on your ass and reading.”
8) “If you get into the mental habit of relating what you’re reading to the basic structure of the underlying ideas being demonstrated, you gradually accumulate some wisdom.”
9) “Warren and I do more reading and thinking and less doing than most people in business. We do that because we like that kind of a life. But we’ve turned that quirk into a positive outcome for ourselves. We both insist on a lot of time being available almost every day to just sit and think. That is very uncommon in American business. We read and think.”
10) "I have always loved to sit and read. And I never knew anything that was really worth a damn that wasn’t learned in that fashion.”
11) "If you take Warren Buffett and watched him with a time clock, I would say half of all the time he spends is sitting on his ass and reading."
12) “We read a lot. I don’t know anyone who’s wise who doesn’t read a lot. But that’s not enough: You have to have a temperament to grab ideas and do sensible things. Most people don’t grab the right ideas or don’t know what to do with them.”
12) “I met the towering intellectuals in books, not in the classroom, which is natural. I can’t remember when I first read Ben Franklin. I had Thomas Jefferson over my bed at seven or eight. My family was into all that stuff, getting ahead through discipline, knowledge, and self-control.”
13) "I am a biography nut myself. And I think when you're trying to teach the great concepts that work, it helps to tie them into the lives and personalities of the people who developed them."
14) “Obviously the more hard lessons you can learn vicariously, instead of from your own terrible experiences, the better off you will be. I don’t know anyone who did it with great rapidity. Warren Buffett has become one hell of a lot better investor since the day I met him, and so have I. If we had been frozen at any given stage, with the knowledge we had, the record would have been much worse than it is. So the game is to keep learning.”
15) "That sounds funny, making friends among the eminent dead, but if you go through life making friends with the eminent dead who had the right ideas, I think it will work better in life and work better in education."
16) “Look at this generation, with all of its electronic devices and multitasking. I will confidently predict less success than Warren, who just focused on reading.”
17) “It's just God's gift. If you're into self-education, there's nothing like reading. Of course, people who do a lot of it have an enormous advantage.”
18) "I don’t think you can get to be a really good investor over a broad range without doing a massive amount of reading. I don’t think there’s any one book that will do it for you."
19) “I either skim or read through 20 books a week. I get lots of books. I read a lot of biography and some history. I read almost no fiction.”
20) “I read myself to sleep every night. I read enormously. I like doing it. Not only that, what I found very early in life was that once I learned to read and handle elementary math, I really didn’t need professors or anything. I could figure out almost anything I wanted better from the written material than from having some professor tell it to me, because he’d be going too fast or too slow or telling me something I already knew or didn’t want to know.
21) "You look at [Andrew] Carnegie and [Benjamin] Franklin, they had a few years of primary school, they learned everything by themselves by reading. Whatever they needed, they just learned. It’s not that hard. Imagine educating yourself by firelight, no lamps, no electricity, after a day’s brutal work. Our ancestors had it tough.”
22) "The beauty of doing a lot of reading and thinking is that if you’re good at it, you don’t have to do much else."
23) “I think I learn a little something from everything I’ve read. I think that one of the reasons I was as economically successful as I was in life is because I read so damn much all my life, starting when I was about six years old. I don’t know how to get smart without reading a lot.”
24) “I met the towering intellectuals in books, not in the classroom, which is natural. I can't remember when I first read Ben Franklin. I had Thomas Jefferson over my bed at seven or eight. My family was into all that stuff, getting ahead through discipline, knowledge, and self-control.”
25) "But you know I spent my whole life with dead people. They’re so much better than many of the people I’m with here on earth. All the dead people in the world, you can learn a lot from them. And they’re very convenient to reach. You reach out and grab a book."