In my whole life, I have known no wise people who didn’t read all the time – none … ZERO.
CHARLIE MUNGEROur job is to find a few intelligent things to do, not to keep up with every damn thing in the world.
More Charlie Munger Quotes
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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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It’s a good habit to trumpet your failures and be quiet about your successes.
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Just avoid things like racing trains to the crossing, doing cocaine, etc. Develop good mental habits.
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The big money is not in the buying and selling, but in the waiting.
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Step by step you get ahead, but rarely in fast spurts.
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The best thing a human being can do is to help another human being know more.
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I’m not entitled to have an opinion unless I can state the arguments against my position better than the people who are in opposition. I think that I am qualified to speak only when I’ve reached that state.
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I’m right, and you’re smart, and sooner or later you’ll see I’m right.
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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 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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There is bound to be a regression toward the mean.
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A foreign correspondent, after talking to me for a while, once said: “You don’t seem smart enough to be so good at what you’re doing. Do you have an explanation?”
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The way to win is to work, work, work, work and hope to have a few insights And you’re probably not going to be smart enough to find thousands in a lifetime. And when you get a few, you really load up. It’s just that simple.
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I don’t spend much time regretting the past, once I’ve taken my lesson from it. I don’t dwell on it.
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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.
CHARLIE MUNGER