“I like inequality a lot better than I like poverty.”

“It is one thing each year to pay the croupiers 3% of starting wealth when the average foundation is enjoying a real return, say, of 17% before the croupiers' take. But it is not written in the stars that foundations will always gain 17% gross, a common result in recent years.”

The punchy 'It is one thing… it is quite another' version circulated online is fabricated; this is the authentic passage.

“Easy money will always attract wretched excess. It's just nature. It's like a bunch of animals feeding on carcasses in Africa.”

Wording lightly cleaned of a spoken filler; on the excesses of modern finance.

“The desire to get rich fast is pretty dangerous.”

“You people, I think, have created a lot of "febezzle" through your foolish investment management practices in dealing with your large holdings of common stock.”

Munger's coinage — 'febezzle,' the functional equivalent of embezzlement — built on J. K. Galbraith's 'bezzle.'