Berkshire Hathaway’s top man, Warren Buffett, and Number 2 man, Charlie Munger, have quotability factors that are off the normal human scale. So it’s no surprise the #BRK2010 Twitter hashtag blew up during the 2010 Berkshire Hathaway annual meeting.

Being a self confessed quotes junkie, here are a few knowledge bombs from the Buffett & Munger Q&A session that stimulated more than a few neurons:

1. Pragmatism is BRK’s universal theory. We are demonstrating the fundamental algorithm of life…repeat what works. – Charlie Munger [My personal favorite!]
2. If you want to give away all of your money to charity, it’s a great tax dodge. – Warren Buffet
3. I’d like to make Paul Volker (referring to Wall Street reformers) look like a sissy. – Charlie Munger
4. It’s hard to keep people disciplined when there are no penalties for the undisciplined. – Warren Buffett
5. The politicians are not behaving better as the newspapers are weakening – Charlie Munger (prologue: discussing the downfall of newspapers and investigative journalism in a post-Internet world.)
6. The secret to happiness is to lower your expectations. – Charlie Munger
7. If you’re scared to do something, maybe you should get your feet wet with a little more failure. – Charlie Munger
8. Your talent at your job is your best hedge against inflation. – Warren Buffett
9. Go to bed each night a little wiser than you were when you got up. People who do that almost never utterly fail. – Charlie Munger
10. When it comes to managing money, take the high road. It’s far less crowded. – Charlie Munger

It’s wisdom like this that really sets Berkshire in a class all it’s own, and also why that I consider Berkshire Hathaway the best (and free) actively managed mutual fund in the business.

Photo by TEDizen