Opportunity comes to the prepared mind.
CHARLIE MUNGERGreat investing requires a lot of delayed gratification.
More Charlie Munger Quotes
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It is remarkable how much long-term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very intelligent.
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In my whole life, I have known no wise people who didn’t read all the time – none … ZERO.
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Acknowledging what you don’t know is the dawning of wisdom.
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Knowing what you don’t know is more useful than being brilliant.
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If you can buy the best companies, over time the pricing takes care of itself.
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A great business at a fair price is superior to a fair business at a great price.
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Stock-picking is like gambling: those who win well, seldom bet, but when they do, they bet heavily.
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If you don’t keep learning, other people will pass you by. Temperament alone won’t do it – you need a lot of curiosity for a long, long time.
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Your life must focus on the maximization of objectivity.
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To the man with only a hammer, every problem looks like a nail.
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I try to get rid of people who always confidently answer questions about which they don’t have any real knowledge.
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Move only when you have an advantage. It’s very basic. You have to understand the odds and have the discipline to bet only when the odds are in your favor.
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If the value of a company doesn’t just scream out at you, it’s too close.
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The iron rule of nature is: you get what you reward for. If you want ants to come, you put sugar on the floor.
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You must force yourself to consider opposing arguments. Especially when they challenge your best loved ideas.
CHARLIE MUNGER






