We have found in a long life that one competitor is frequently enough to ruin a business.
CHARLIE MUNGERGo to bed smarter than when you woke up.
More Charlie Munger Quotes
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You must force yourself to consider opposing arguments. Especially when they challenge your best loved ideas.
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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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The more hard lessons you can learn vicariously rather than through your own hard experience, the better.
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The safest way to get what you want is to deserve what you want.
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It’s not greed that drives the world, but envy.
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There is bound to be a regression toward the mean.
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Just avoid things like racing trains to the crossing, doing cocaine, etc. Develop good mental habits.
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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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Whenever you think something or some person is ruining your life, it’s you. A victimization mentality is so debilitating.
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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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To me, it’s obvious that the winner has to bet very selectively. It’s been obvious to me since very early in life. I don’t know why it’s not obvious to very many other people.
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Your life must focus on the maximization of objectivity.
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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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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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It’s been my experience in life if you just keep thinking and reading, you don’t have to work.
CHARLIE MUNGER