Being Honest - Charlie Munger

#shorts #charliemunger #billionairesecrets
that large warren lie.

We never tried to make money out of dumb say out of stupidity of our dump buyers.

We tried to make money by buying and if we were selling horseshit, we didn't want to pretend it was a cure for arthritis.

And yeah, I think it's better to go through life far away instead of theirs.

And I. Mhm.

I think it's always been this way.

It has always been that you can think of the carnival.

So the Carnie operator think how much trickier there is a carny operation and people just seek out the weaknesses of their bowman and take advantage and you have to get wise and I'll show you you avoid them all.

Yeah, you can't avoid them if they're in. Your family had no solution to that.

But where you have a fair choice, there's just so many people that should be avoided.

My father had this best friend and client and he also had this other client who is a big blow art.

And he was always working for the big blow hard and he wasn't ever working for his wonderful clown, whom I admired.

Why do you do this?

He said, charlie, you idiot.

He says the big blowhard is an endless source of legal troubles.

He's always in trouble.

Overreaching and misbehaving and so forth.

Where is the cramping pain and keeps everybody right?

The employees, the customers, everything.

He gets involved with.

Some psychotic.

He walks over there and makes a great selection immediately.

A man like that doesn't need a lawyer.

And my father was trying to teach me something and it really works.

I spent my whole life trying to be like Grant McFayden and I want to tell you it works.

It really works.

Peter Hoffman is always telling me if you only knew how much money you could make by being honest, they will be differently.

It's warren has a wonderful thing I like is you take the high road, it's never crowded and it's work.

Take The Daily Journal Corporation.

We made quite a few millions of dollars of the foreclosure bull because we published legal notices and we dominated the publication of foreclosure notices in the worst real estate depression, in the history of modern dogs.

And we could have raised our prices of the family made more tens of millions of dollars.

But we didn't do it.

Yeah.

You know when your fellow citizens are losing their damn houses in the worst recession, charlie munger billionaire raises prices.

It would look lousy on the front page of the paper, people around, honestly, should you do it?

And the answer is no, of course not give you what you're weren't always said.

It's a probably always a mistake to marry for money.

And it's really stupid if you're already rich and it's really stupid, but you're already rich to get a reputation of being total.

No goodness