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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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Best Build Possible Rival True Yourself

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Marilyn Monroe Paulo Coelho Abraham Lincoln C. S. Lewis Khalil Gibran Charlie Chaplin Gautama Buddha Isaac Newton

This is a good life lesson: getting the right people into your system is the most important thing you can do.
CHARLIE MUNGER

Goodness Important Lesson Life People Right System Yourself
To me, it’s obvious that the winner has to bet very selectively. It’s been obvious to me since very early in life. I don’t know why it’s not obvious to very many other people.
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Early Investment Life Myself People Win
It’s a good habit to trumpet your failures and be quiet about your successes.
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Failure Goodness Habit Quiet Success Yourself
I did not succeed in life by intelligence. I succeeded because I have a long attention span.
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Attention Intelligence Life Myself Success Time
Someone will always be getting richer faster than you. This is not a tragedy.
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Fast Rich Tragedy Yourself
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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Basic Habit Mental Reading Structure Wisdom
Knowing what you don’t know is more useful than being brilliant.
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Brilliant Unknown Wisdom Yourself
We try more to profit from always remembering the obvious than from grasping the esoteric.
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Ego Profit Remember Try
If you can buy the best companies, over time the pricing takes care of itself.
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Best Care Company Price Time Yourself
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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God Location Myself Question
People always underestimate the ability of earth to increase its carrying capacity.
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Ability Capacity Carry Earth People
The best thing a human being can do is to help another human being know more.
CHARLIE MUNGER

Best Compassionate Empathy Help Human Kindness Learning
Just avoid things like racing trains to the crossing, doing cocaine, etc. Develop good mental habits.
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Avoid Development Habit Mental Race Training
All I want to know is where I’m going to die, so I’ll never go there.
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Death Funny Myself Place
Great investing requires a lot of delayed gratification.
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Delay Gratitude Greatness Investment
The more hard lessons you can learn vicariously rather than through your own hard experience, the better.
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Better Experience Hard Lesson Yourself

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