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I like people admitting they were complete stupid horses’ asses. I know I’ll perform better if I rub my nose in my mistakes. This is a wonderful trick to learn.

Charlie Munger

I think that, every time you saw the word EBITDA, you should substitute the word “bullshit” earnings.
CHARLIE MUNGER

Myself Substitution Thinking Time
I try to get rid of people who always confidently answer questions about which they don’t have any real knowledge.
CHARLIE MUNGER

Confidence Myself People Question Reality Try
There are worse situations than drowning in cash and sitting, sitting, sitting. I remember when I wasn’t awash in cash — and I don’t want to go back.
CHARLIE MUNGER

Money Myself Situation Worst
Spend less than you make; always be saving something. Put it into a tax-deferred account. Over time, it will begin to amount to something. This is such a no-brainer.
CHARLIE MUNGER

Beginning Save Time Yourself
I like people admitting they were complete stupid horses’ asses. I know I’ll perform better if I rub my nose in my mistakes. This is a wonderful trick to learn.
CHARLIE MUNGER

Learning Mistake People Stupidity Trick Wonderful
To the man with only a hammer, every problem looks like a nail.
CHARLIE MUNGER

Appearance Man Problem Yourself
If the value of a company doesn’t just scream out at you, it’s too close.
CHARLIE MUNGER

Company Scream Value Yourself
I did not succeed in life by intelligence. I succeeded because I have a long attention span.
CHARLIE MUNGER

Attention Intelligence Life Myself Success Time
In my whole life, I have known no wise people who didn’t read all the time – none … ZERO.
CHARLIE MUNGER

Known Life Myself People Reading Time Wisdom
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

Best Build Possible Rival True Yourself
The investment game always involves considering both quality and price, and the trick is to get more quality than you pay for in price. It’s just that simple.
CHARLIE MUNGER

Investment Price Quality Simplicity Yourself
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.
CHARLIE MUNGER

Learning Leaving Life Yourself
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

Argument Myself Opinion Side
Show me the incentive and I will show you the outcome.
CHARLIE MUNGER

Investment Myself Result Yourself
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
A lot of success in life and business comes from knowing what you want to avoid: early death, a bad marriage, etc.
CHARLIE MUNGER

Avoid Bad Business Death Early Marriage Success

I like people admitting they were complete stupid horses’ asses. I know I’ll perform better if I rub my nose in my mistakes. This is a wonderful trick to learn.

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I like people admitting they were complete stupid horses’ asses. I know I’ll perform better if I rub my nose in my mistakes. This is a wonderful trick to learn.

Related Topics

Popular Authors

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