Never, ever, think about something else when you should be thinking about the power of incentives.
CHARLIE MUNGERSpend 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.
More Charlie Munger Quotes
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Acknowledging what you don’t know is the dawning of wisdom.
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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 -
If you can buy the best companies, over time the pricing takes care of itself.
CHARLIE MUNGER -
We have found in a long life that one competitor is frequently enough to ruin a business.
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The game of life is the game of everlasting learning. At least it is if you want to win.
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A lot of success in life and business comes from knowing what you want to avoid: early death, a bad marriage, etc.
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The best thing a human being can do is to help another human being know more.
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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 -
The big money is not in the buying and selling, but in the waiting.
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If the value of a company doesn’t just scream out at you, it’s too close.
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We don’t like trading agony for money
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Great investing requires a lot of delayed gratification.
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I don’t spend much time regretting the past, once I’ve taken my lesson from it. I don’t dwell on it.
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In my whole life, I have known no wise people who didn’t read all the time – none … ZERO.
CHARLIE MUNGER -
A great business at a fair price is superior to a fair business at a great price.
CHARLIE MUNGER