I know just enough about thermodynamics to understand that if it takes too much fossil-fuel energy to create ethanol, that's a very stupid way to solve an energy problem.
Charlie MungerIf you, like me, lived through 1973-74 or even the early 1990s... There was a waiting list to get OUT of the country club - that's when you know things are tough. If you live long enough, you'll see it.
Charlie MungerFor years I have read the morning paper and harrumphed. There's a lot to harrumph about now.
Charlie MungerI try to get rid of people who always confidently answer questions about which they don't have any real knowledge.
Charlie MungerIt's been my experience in life if you just keep thinking and reading, you don't have to work.
Charlie MungerI mean people are really crazy about minor decrements down. And then, if you act on them, then you get into reciprocation tendency, because you don't just reciprocate affection, you reciprocate animosity, and the whole thing can escalate. And so huge insanities can come from just subconsciously over-weighing the importance of what you're losing or almost getting and not getting.
Charlie Munger