The big money is not in the buying and selling, but in the waiting.
CHARLIE MUNGERIf you want to understand science, you have to understand math. In business, if you’re enumerate, you’re going to be a klutz. The good thing about business is that you don’t have to know any higher math.
More Charlie Munger Quotes
-
-
Hard work, honesty, if you keep at it, will get you almost anything.
CHARLIE MUNGER -
There is bound to be a regression toward the mean.
CHARLIE MUNGER -
Any year that you don’t destroy one of your best-loved ideas is probably a wasted year.
CHARLIE MUNGER -
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.
CHARLIE MUNGER -
The game of life is the game of everlasting learning. At least it is if you want to win.
CHARLIE MUNGER -
People always underestimate the ability of earth to increase its carrying capacity.
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 -
Knowing what you don’t know is more useful than being brilliant.
CHARLIE MUNGER -
There’s no way that you can live an adequate life without many mistakes. In fact, one trick in life is to get so you can handle mistakes. Failure to handle psychological denial is a common way for people to go broke.
CHARLIE MUNGER -
Intelligent people make decisions based on opportunity costs.
CHARLIE MUNGER -
A lot of our respected financial institutions are just casinos in drag.
CHARLIE MUNGER -
Show me the incentive and I will show you the outcome.
CHARLIE MUNGER -
I’m right, and you’re smart, and sooner or later you’ll see I’m right.
CHARLIE MUNGER -
It’s stupid the way people extrapolate the past — and not slightly stupid, but massively stupid.
CHARLIE MUNGER -
If we’ve been a little more successful than other people, is because we always realised that the school of life was always open, and if you were not learning more you are falling behind.
CHARLIE MUNGER