I did not succeed in life by intelligence. I succeeded because I have a long attention span.
CHARLIE MUNGERWe don’t like trading agony for money
More Charlie Munger Quotes
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The game of life is the game of everlasting learning. At least it is if you want to win.
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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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People always underestimate the ability of earth to increase its carrying capacity.
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It takes character to sit there with all that cash and do nothing. I didn’t get to where I am by going after mediocre opportunities.
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We try more to profit from always remembering the obvious than from grasping the esoteric.
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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.
CHARLIE MUNGER -
The big money is not in the buying and selling, but in the waiting.
CHARLIE MUNGER -
Any year that you don’t destroy one of your best-loved ideas is probably a wasted year.
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You’re not going to get very far in life based on what you already know. You’re going to advance in life by what you’re going to learn after you leave here.
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Just avoid things like racing trains to the crossing, doing cocaine, etc. Develop good mental habits.
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How do you compete against a true fanatic? You can only try to build the best possible moat and continuously attempt to widen it.
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Why should it be easy to do something that, if done well, two or three times, will make your family rich for life?
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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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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.
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All I want to know is where I’m going to die, so I’ll never go there.
CHARLIE MUNGER