"You have to know accounting. It's the language of practical business life. It was a very useful thing to deliver to civilization. I've 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."
"Early Charlie Munger is a horrible career model for the young, because not enough was delivered to civilization in return for what was wrested from capitalism. And other similar career models are even worse."
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Source: Investment Practices of Leading Charitable Foundations. Charlie Munger's speech to a meeting of the Foundation Financial Officers Group at Miramar Sheraton Hotel, Santa Monica, CA, October 14, 1998.
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