Charlie Munger
| Charlie Munger | |
|---|---|
 | |
| Umumiy maʼlumotlar | |
| Tavalludi |
1-yanvar 1924 Omaha |
| Vafoti |
28-noyabr 2023 Santa Barbara |
| Qardosh loyihalar | |
Charles Thomas Munger (1924-yil 1-yanvar – 2023-yil 28-noyabr) – amerikalik tadbirkor, sarmoyador va huquqshunos.
Iqtiboslar
[tahrirlash]Albatta, buxgalteriya hisobini bilish shart — bu amaliy biznes hayotining tilidir. Uni insoniyatga olib kirish juda foydali ish boʻlgan. Eshitishimcha, buxgalteriya sivilizatsiyaga Venetsiya orqali kirib kelgan — u bir zamonlar Oʻrta Yer dengizining yirik savdo markazi boʻlgan. Ayniqsa, ikki tomonlama buxgalteriya yuritish tizimi nihoyatda ajoyib ixtiro edi. | |
Obviously, you have to know accounting. Itʼs the language of practical business life. It was a very useful thing to deliver to civilization. Iʼve heard it came to civilization through Venice which of course was once the great commercial power in the Mediterranean. However, double-entry bookkeeping was a hell of an invention. |
... zamonaviy korporativ moliya kurslarida oʻqitiladigan narsalarning koʻp qismi safsata. — 1996 Berkshire Hathaway Annual Meeting, YouTube video with quote at 2:41:46 of 4:54:01 in video | |
... much of what is taught in modern corporate finance courses is twaddle. |
Siz asosiy fanlardagi barcha muhim gʻoyalarni shunday oʻzlashtirishingiz kerakki, ular miyangizda aqliy zanjirda boʻlsin va siz ulardan avtomatik ravishda umringizning qolgan qismida foydalaning. Agar buni uddalasangiz, men sizga qatʼiy vaʼda beraman: bir kun kelib koʻchada yurib, atrofga nazar solasiz-da, „Xudoyim-ey, men endi oʻz tengdoshlarim orasidagi sanoqli bilimdon kishilardan biriga aylanibman“ deb oʻylaysiz. Agar buni qilmasangiz, sizlarning eng iqtidorlilaringiz ham oʻrtamiyona yoki sayoz hayot kechirishga mahkum boʻladi. — USC Law School Commencement Speech (2007-05-13) | |
You have to learn all the big ideas in the key disciplines in a way that they're in a mental latticework in your head and you automatically use them for the rest of your life. If you do that, I solemnly promise you that one day you'll be walking down the street and you'll look to your right and left and youʼll think "my heavenly days, I'm now one of the few competent people in my whole age cohort." If you don't do it, many of the brightest of you will live in the middle ranks or in the shallows. |
Bizning investitsiya uslubimizga „fokusli investitsiya“ degan nom berildi, bu yuz yoki toʻrt yuz emas, balki oʻnta xoldingni anglatadi. Bu yuz yoki toʻrt yuz emas, balki oʻnta kompaniyaga sarmoya kiritishni nazarda tutadi. Yaxshi investitsiya imkoniyatlarini topish qiyin, shuning uchun bir nechtasiga eʼtibor qaratish kerak, degan fikr menga aniq va mantiqli tuyuladi. Biroq, investitsiya olamining 98 foizi bunday fikrlamaydi. Bu holat bizning foydamiz uchun xizmat qildi. — Poor Charlie's Almanack, p. 100 (1st edition, 2005; 2nd edition, 2008) | |
Our investment style has been given a name - focus investing - which implies ten holdings, not one hundred or four hundred. The idea that it is hard to find good investments, so concentrate in a few, seems to me to be an obvious idea. But 98% of the investment world does not think this way. It's been good for us. |
Wall Streetʼdagi oʻrtacha kompaniya rahbariga buxgalteriya hisobi boʻyicha juda yumshoq standartlarni bersangiz, raqamlar yaxshi boʻlishini kutmang. Buxgalter xuddi futboldagi hakamga oʻxshaydi. U tartibsizliklarning oldini oluvchi masʼul shaxs boʻlishi kerak. Buxgalterlar bu masʼuliyatni oʻz zimmalariga olishni istashmaydi, chunki bu javobgarlik, qiyinchilik va muammolarni keltirib chiqaradi. Ular bizni juda qattiq aldashdi. — (March 22, 2011)"A Conversation with Charlie Munger". Ross School of Business, YouTube. (quote at 23:30 of 1:59:58) | |
You can't give the average Wall Street CEO really lenient standards of accounting and expect the figures to be good. The accountant is like the referee in soccer. The accountant has to be the adult that prevents the mayhem. Accountants don't want to be the adults because it causes liability, it causes responsibility, it causes difficulty ... they failed us terribly. |
Shuncha ilmiy darajaga va oliy matematik bilimiga ega boʻlgan oʻta aqlli odamlar qanday qilib bunday bemaʼni ishlarni qilishadi? Menimcha, buni „bolgʻa koʻtargan odamga har qanday muammo mix boʻlib koʻrinadi“ degan eski maqol bilan tushuntirish mumkin. Ular oʻzlashtirib olgan usullarini qoʻllash uchun muammoni sunʼiy ravishda oʻzgartirishadi. Aslida, bu muammoga yondashishning toʻgʻri usuli emas. — (2012)"TIMESAVER EDIT - FULL Q&A Warrant Buffett Charlie 2012 Berkshire Hathaway Annual Meeting". IDP, YouTube. (quote at 3:05:17 of 4:28:07, posted on YouTube in June 2019) | |
How do these super-smart people with all these degrees and higher mathematics end up doing these dumb things? I think it's explainable by the old proverb that to the man with a hammer every problem looks pretty much like a nail. They've learned these techniques and they just twist the problem so it fits the solution — which is not the way to do it. |
Na men, na Warren, va hatto Uorrenni oʻqitgan Ben Graham ham biznesda hech qachon murakkab matematikadan foydalanmaganmiz. Men biznesda qilgan barcha ishlarni eng oddiy algebra, geometriya, qoʻshish va koʻpaytirish kabi amallar bilan bajarish mumkin edi. Hayotimda biror marta ham amaliy ishda differensial hisobdan foydalanmaganman, garchi uni menga oʻrgatishganda juda zoʻr oʻzlashtirgan boʻlsam-da. — (December 20, 2017)"A Conversation with Charlie Munger and Michigan Ross - 2017". Ross School of Business, YouTube. (quote at 20:51 of 55:39) | |
Neither Warren nor I have ever used any fancy math in business — and neither did Ben Graham who taught Warren. Everything I have ever done in business could be done with the simplest algebra and geometry and addition and multiplication and so forth. I never used calculus for any practical work in my whole damn life — and I was a perfect whiz at it when they taught it to me. |
Men bitkoinni sunʼiy spekulyativ vosita sifatida koʻraman. Odamlar uni faqat boshqalarga yuqoriroq narxda sotish mumkin deb oʻylab sotib olishadi, aslida esa u hech qanday ichki qiymatga ega emas. Shuning uchun, men bu butun faoliyatni jamiyatga zid, ahmoqona va axloqsiz deb hisoblayman. [...] Men bu hodisani aqldan ozish va axloqsizlikning aralashmasi deb bilaman va uni targʻib qilayotgan odamlarni sharmandali deb hisoblayman. — Yahoo Finance interview with Andrew Serwer, May 7, 2018 (at 17:00) | |
I see [Bitcoin as] an artificial speculative medium that people are buying just because they think they can sell it to somebody else at a higher price, even though it inherently has no intrinsic value. So, I regard the whole business as anti-social, stupid, immoral. [...] I regard the thing as a combination of dementia and immorality, and I think the people that are pushing it are a disgrace. |
...Vaqti soati kelib, buyuk bir davlat albatta Rimga aylanishini aniq deb bilaman. ... Rim qayerda? Britaniya oʻzining eng gullab-yashnagan davrida qayerda edi? Bularning barchasi oʻtib ketdi, demak, bir kun kelib bizning ham navbatimiz kelishi muqarrar. — (February 15, 2019)"Berkshire Hathaway VP Charlie Munger on investing". CNBC Television, YouTube. (quote at 9:22 of 31:45) | |
... I regard it as a cinch that a great nation will in due time be Rome. ... Where is Rome? Where is Britain in its heyday? They all pass and so our turn is bound to come some day. |
Sizda hasad ham, gina ham uncha koʻp emas. Daromadingizdan ortiqcha sarf qilmaysiz, qiyinchiliklarga qaramay xushchaqchaq boʻlib yurasiz, ishonchli odamlar bilan munosabat oʻrnatasiz va zimmangizdagi vazifalarni bajarasiz. Bu oddiy qoidalarning barchasi hayotingizni yaxshilashda juda samarali ishlaydi. Ular shunchalik oddiy boʻlsa-da, nihoyatda foydali. — Charli Munger uzoq va baxtli umr koʻrishning siri haqida, buni „oson“ deb ataydi, chunki u juda oddiy ekan. "'What Berkshire Hathawayʼs Charlie Munger learned about life at age 7'".<span | |
You donʼt have a lot of envy, you donʼt have a lot of resentment. You donʼt overspend your income, you stay cheerful in spite of your troubles, you deal with reliable people, and you do what youʼre supposed to do. And all these simple rules work so well to make your life better. And theyʼre so trite. |
Menimcha, u Adam Smithning kim boʻlganini bilmaydi. — Charlie Munger on Alexandra Ocasio-Cortez [1] By Charlie Munger (May 9, 2019) | |
I don't think that she knows who Adam Smith was. |
Men aytgan eng muhim narsa shuki, agar siz barcha bemaʼni xatolardan qochmoqchi boʻlsangiz, oʻzingizning qaysi sohada malakali va qaysi sohada malakasiz ekanligingizni bilishingiz kerak. Buni anglash juda qiyin, chunki inson ongi tabiiy ravishda sizni aslida borligingizdan ancha aqlliroq deb oʻylashga undaydi. — (December 17, 2020)"A Conversation with Distinguished Alumnus Charles T. Munger (CERT '44, CAVU)". Caltech, YouTube. (quote at 18:20 of 58:41) | |
What I would say is the single most important thing, if you want to avoid all the stupid errors, is knowing where you're competent and where you aren't. And that's very hard to do because the human mind naturally tries to make you think you're way smarter than you are. |
Tuzatish mumkin boʻlganini tuzatasan, tuzatib boʻlmaydiganiga esa chidaysan. — (February 24, 2021)"Charlie Munger, Vice Chairman of Berkshire Hathaway, speaks at the Daily Journal Annual Meeting". Yahoo Finance, YouTube. (quote at 1:09:20 of 1:59:05) | |
You fix what can be fixed, and what can't be fixed you endure. |
Biz odamlarga zararli boʻlgan narsalarni sotib pul topishni istamaymiz. — (May 1, 2021)"Berkshire Hathaway Shareholders Meeting 2021 featuring Warren Buffett and Charlie Munger". Yahoo Finance, YouTube. (quote at 4:32:01 of 5:42:25) | |
We don't want to make our money selling things that are bad for people. |
Menga ragʻbatni koʻrsating va men sizga natijani namoyish etaman. — "'Show me the incentive and I will show you the outcome'".<span | |
Show me the incentive and I will show you the outcome. |