Show me the incentive and I will show you the outcome.
CHARLIE MUNGERIntelligent people make decisions based on opportunity costs.
More Charlie Munger Quotes
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I never allow myself to have an opinion on anything that I don’t know the other side’s argument better than they do.
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Most people are too fretful, they worry to much. Success means being very patient, but aggressive when it’s time.
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Our job is to find a few intelligent things to do, not to keep up with every damn thing in the world.
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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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We try more to profit from always remembering the obvious than from grasping the esoteric.
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When you locate a bargain, you must ask, ‘Why me, God? Why am I the only one who could find this bargain?’
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If you can buy the best companies, over time the pricing takes care of itself.
CHARLIE MUNGER -
Someone will always be getting richer faster than you. This is not a tragedy.
CHARLIE MUNGER -
I believe in the discipline of mastering the best that other people have ever figured out. I don’t believe in just sitting down and trying to dream it all up yourself. Nobody’s that smart.
CHARLIE MUNGER -
Spend less than you make; always be saving something. Put it into a tax-deferred account. Over time, it will begin to amount to something. This is such a no-brainer.
CHARLIE MUNGER -
We don’t like trading agony for money
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It’s not greed that drives the world, but envy.
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Opportunity comes to the prepared mind.
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There has never been a master plan. Anyone who wanted to do it, we fired because it takes on a life of its own and doesn’t cover new reality. We want people taking into account new information.
CHARLIE MUNGER -
Bull markets go to people’s heads. If you’re a duck on a pond, and it’s rising due to a downpour, you start going up in the world. But you think it’s you, not the pond.
CHARLIE MUNGER






