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 MUNGERInvesting is where you find a few great companies and then sit on your ass.
More Charlie Munger Quotes
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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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Great investing requires a lot of delayed gratification.
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Investing is where you find a few great companies and then sit on your ass.
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If we’ve been a little more successful than other people, is because we always realised that the school of life was always open, and if you were not learning more you are falling behind.
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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.
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To the man with only a hammer, every problem looks like a nail.
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It takes character to sit there with all that cash and do nothing. I didn’t get to where I am by going after mediocre opportunities.
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The safest way to get what you want is to deserve what you want.
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Go to bed smarter than when you woke up.
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A great business at a fair price is superior to a fair business at a great price.
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Acknowledging what you don’t know is the dawning of wisdom.
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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.
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It’s a good habit to trumpet your failures and be quiet about your successes.
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Any year that you don’t destroy one of your best-loved ideas is probably a wasted year.
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A lot of our respected financial institutions are just casinos in drag.
CHARLIE MUNGER