Intelligent people make decisions based on opportunity costs.
CHARLIE MUNGERGo to bed smarter than when you woke up.
More Charlie Munger Quotes
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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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It never ceases to amaze me to see how much territory can be grasped if one merely masters and consistently uses all the obvious and easily learned principles.
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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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I try to get rid of people who always confidently answer questions about which they don’t have any real knowledge.
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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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The best thing a human being can do is to help another human being know more.
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To the man with only a hammer, every problem looks like a nail.
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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.
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Knowing what you don’t know is more useful than being brilliant.
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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.
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The safest way to get what you want is to deserve what you want.
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If you can buy the best companies, over time the pricing takes care of itself.
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All I want to know is where I’m going to die, so I’ll never go there.
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Your life must focus on the maximization of objectivity.
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Whenever you think something or some person is ruining your life, it’s you. A victimization mentality is so debilitating.
CHARLIE MUNGER