Someone will always be getting richer faster than you. This is not a tragedy.
CHARLIE MUNGERYour life must focus on the maximization of objectivity.
More Charlie Munger Quotes
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It’s been my experience in life if you just keep thinking and reading, you don’t have to work.
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Most people are too fretful, they worry to much. Success means being very patient, but aggressive when it’s time.
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Show me the incentive and I will show you the outcome.
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A foreign correspondent, after talking to me for a while, once said: “You don’t seem smart enough to be so good at what you’re doing. Do you have an explanation?”
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A lot of our respected financial institutions are just casinos in drag.
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If you want to understand science, you have to understand math. In business, if you’re enumerate, you’re going to be a klutz. The good thing about business is that you don’t have to know any higher math.
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We don’t like trading agony for money
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This is a good life lesson: getting the right people into your system is the most important thing you can do.
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In my whole life, I have known no wise people who didn’t read all the time – none … ZERO.
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I’m right, and you’re smart, and sooner or later you’ll see I’m right.
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The average result has to be the average result. By definition, everybody can’t beat the market. As I always say, the iron rule of life is that only 20% of the people can be in the top fifth. That’s just the way it is.
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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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Our job is to find a few intelligent things to do, not to keep up with every damn thing in the world.
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Stock-picking is like gambling: those who win well, seldom bet, but when they do, they bet heavily.
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Go to bed smarter than when you woke up.
CHARLIE MUNGER