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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.

Charlie Munger

Someone will always be getting richer faster than you. This is not a tragedy.
CHARLIE MUNGER

Fast Rich Tragedy Yourself
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.
CHARLIE MUNGER

Advantage Consistent Intelligence People Remark Stupidity Try
We don’t like trading agony for money
CHARLIE MUNGER

Agony Money Trade
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
To the man with only a hammer, every problem looks like a nail.
CHARLIE MUNGER

Appearance Man Problem Yourself
If you don’t keep learning, other people will pass you by. Temperament alone won’t do it – you need a lot of curiosity for a long, long time.
CHARLIE MUNGER

Alone Curiosity Learning Need Pass People Time
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

Advantage Basic Discipline Move Yourself
The safest way to get what you want is to deserve what you want.
CHARLIE MUNGER

Deserve Safety Way Worth Yourself
Common stock investors can make money by predicting the outcomes of practice evolution. You can’t derive this by fundamental analysis – you must think biologically.
CHARLIE MUNGER

Biology Evolution Investment Money Practice Prediction Thinking
If you don’t allow for self-serving bias in the conduct of others, you are, again, a fool.
CHARLIE MUNGER

Conduct Fools Service Yourself
A great business at a fair price is superior to a fair business at a great price.
CHARLIE MUNGER

Business Choice Greatness Price
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.
CHARLIE MUNGER

Hope Life Simplicity Time Win Work Yourself
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.
CHARLIE MUNGER

Argument Myself Opinion Qualification Reach State Thinking
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.
CHARLIE MUNGER

Hard Work Investment People Wait Yourself
Never, ever, think about something else when you should be thinking about the power of incentives.
CHARLIE MUNGER

Power Thinking Yourself
It’s been my experience in life if you just keep thinking and reading, you don’t have to work.
CHARLIE MUNGER

Experience Life Reading Thinking Yourself

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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How do you compete against a true fanatic? You can only try to build the best possible moat and continuously attempt to widen it.

Related Topics

Popular Authors

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