There is bound to be a regression toward the mean.
CHARLIE MUNGERThe safest way to get what you want is to deserve what you want.
More Charlie Munger Quotes
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Most people are too fretful, they worry to much. Success means being very patient, but aggressive when it’s time.
CHARLIE MUNGER -
When you locate a bargain, you must ask, ‘Why me, God? Why am I the only one who could find this bargain?’
CHARLIE MUNGER -
We don’t like trading agony for money
CHARLIE MUNGER -
Just avoid things like racing trains to the crossing, doing cocaine, etc. Develop good mental habits.
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Never, ever, think about something else when you should be thinking about the power of incentives.
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It’s stupid the way people extrapolate the past — and not slightly stupid, but massively stupid.
CHARLIE MUNGER -
The wise ones bet heavily when the world offers them that opportunity. They bet big when they have the odds. And the rest of the time, they don’t. It’s just that simple.
CHARLIE MUNGER -
The best thing a human being can do is to help another human being know more.
CHARLIE MUNGER -
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 -
The big money is not in the buying and selling, but in the waiting.
CHARLIE MUNGER -
The game of life is the game of everlasting learning. At least it is if you want to win.
CHARLIE MUNGER -
Show me the incentive and I will show you the outcome.
CHARLIE MUNGER -
Step by step you get ahead, but rarely in fast spurts.
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Acknowledging what you don’t know is the dawning of wisdom.
CHARLIE MUNGER -
Someone will always be getting richer faster than you. This is not a tragedy.
CHARLIE MUNGER