We try more to profit from always remembering the obvious than from grasping the esoteric.
CHARLIE MUNGERI don’t spend much time regretting the past, once I’ve taken my lesson from it. I don’t dwell on it.
More Charlie Munger Quotes
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If you get into the mental habit of relating what you’re reading to the basic structure of the underlying ideas being demonstrated, you gradually accumulate some wisdom.
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Opportunity comes to the prepared mind.
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The safest way to get what you want is to deserve what you want.
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The best thing a human being can do is to help another human being know more.
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You don’t have to have perfect wisdom to get very rich – just a bit better than average over a long period of time.
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We don’t like trading agony for money
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You’re looking for a mispriced gamble. That’s what investing is. And you have to know enough to know whether the gamble is mispriced. That’s value investing.
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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.
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It’s waiting that helps you as an investor, and a lot of people just can’t stand to wait. If you didn’t get the deferred-gratification gene, you’ve got to work very hard to overcome that.
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We have found in a long life that one competitor is frequently enough to ruin a business.
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All I want to know is where I’m going to die, so I’ll never go there.
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This is a good life lesson: getting the right people into your system is the most important thing you can do.
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A lot of success in life and business comes from knowing what you want to avoid: early death, a bad marriage, etc.
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It’s not greed that drives the world, but envy.
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I did not succeed in life by intelligence. I succeeded because I have a long attention span.
CHARLIE MUNGER