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Charlie Munger

Vice chairman of Berkshire Hathaway, 1978–2023

Recorded said elsewhere, not written here
Life will have terrible blows, horrible blows, unfair blows. Doesn't matter. And some people recover and others don't. And there I think the attitude of Epictetus is the best. He thought that every mischance in life was an opportunity to behave well. Every mischance in life was an opportunity to learn something and your duty was not to be submerged in self-pity, but to utilize the terrible blow in a constructive fashion.

USC Gould School of Law commencement, Speakola, 2007 source ↗

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Frederick W. Smith Founder and long-serving chairman of FedEx Corporation
I was a student at Yale and wrote a paper about the computerized society that was on the horizon. ... Then I sort of let that lie. I didn’t get a particularly good grade on it, as I recall.
Recorded Academy of Achievement interview, 23 May 1998 source ↗
Frederick Sanger Biochemist; twice a Nobel laureate in Chemistry, 1958 and 1980
They’re not failures, you try something and it doesn’t work, and some people, you know, get fed up with this, and I’ve known some of my friends and colleagues who have just decided to give up science because they can’t stand it, but I’ve always decided, you know, if it doesn’t work, forget it and start planning the next experiment, and that’s always exciting.
Recorded Academy of Achievement interview, 28 October 2000 source ↗
Daniel Kahneman Psychologist; laureate of the Sveriges Riksbank Prize in Economic Sciences, 2002
I got quite nice results in my one-question studies, but never wrote up any of the work, because I had set myself impossible standards: in order not to pollute the literature, I wanted to report only findings that I had replicated in detail at least once, and the replications were never quite perfect. I realized only gradually that my aspirations demanded more statistical power and therefore much larger samples than I was intuitively inclined to run. This observation also came in handy some time later.
Recorded Laureate-written autobiography for Les Prix Nobel, Nobel Prize Outreach, 1 December 2002 source ↗
Robert S. Langer Biomedical engineer; Institute Professor at MIT
In fact, what I usually say to people, “Probably some of the most successful scientists are the ones that know how to deal with failure well.” Because it’s easy to feel good when you succeed. That’s an easy thing. But you’re probably going to fail in science a lot more than you succeed, so you really have to learn how to deal with it and not let it beat you.
Recorded Academy of Achievement interview, 25 October 2012 source ↗

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Question What does everyone in your world seem to agree on that you think is wrong? Values & belief
I realized very early that non-egality would work better in the parts of the world I wanted to inhabit. What do I mean by non-egality? I mean John Wooden, when he was the number one basketball coach in the world. He just said to the bottom five players, “You don't get to play. You're sparring partners.” The top seven did all the playing.
Recorded USC Gould School of Law commencement, 2007, Speakola, 2007 source ↗

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