16 brilliant quotes from Charlie Munger, Warren Buffett's right-hand man

Charlie Munger is a college dropout who servedas a meteorologist in the US Army Air Corps before graduating from Harvard Law.And then he met Warren Buffett.The rest is history.As vice chairman of Berkshire Hathaway,Munger is Buffett's right-hand man. Hehas an estimated net worth of $1.19 billion.Like Buffett, Mungeris incredibly sharp in his wit and investing wisdom.You might even argue that his words are more blunt and unfiltered than Buffett's.We compiled a list of Munger'smost insightful quotes about investing, business, and life.Check them out below:Overestimating your intelligence could be a major pitfall."If you think your IQ is 160 but it's 150, you're a disaster. It's much better to have a 130 IQ and think it's 120."Source: Berkshire Hathaway 2009 meeting via The Daily BeastSmart people do dumb things."We recognized early on that very smart people do very dumb things, and we wanted to know why and who, so we could avoid them."Source: Berkshire Hathaway 2007 meeting viaBuffett FAQInvest in the business that any fool can run."Invest in a business any fool can run, because someday a fool will. If it won't stand a little mismanagement, it's not much of a business. We're not looking for mismanagement, even if we can withstand it."Source: Berkshire Hathaway 2009 meeting viaBuffett FAQSee the rest of the story at Business Insider
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