The more hard lessons you can learn vicariously rather than through your own hard experience, the better.
CHARLIE MUNGERNever, ever, think about something else when you should be thinking about the power of incentives.
More Charlie Munger Quotes
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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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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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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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I’m not entitled to have an opinion unless I can state the arguments against my position better than the people who are in opposition. I think that I am qualified to speak only when I’ve reached that state.
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I believe in the discipline of mastering the best that other people have ever figured out. I don’t believe in just sitting down and trying to dream it all up yourself. Nobody’s that smart.
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Acknowledging what you don’t know is the dawning of wisdom.
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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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You don’t have to have perfect wisdom to get very rich – just a bit better than average over a long period of time.
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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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Someone will always be getting richer faster than you. This is not a tragedy.
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Three rules for a career: 1) Don’t sell anything you wouldn’t buy yourself; 2) Don’t work for anyone you don’t respect and admire; and 3) Work only with people you enjoy.
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The way to win is to work, work, work, work and hope to have a few insights And you’re probably not going to be smart enough to find thousands in a lifetime. And when you get a few, you really load up. It’s just that simple.
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There has never been a master plan. Anyone who wanted to do it, we fired because it takes on a life of its own and doesn’t cover new reality. We want people taking into account new information.
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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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Go to bed smarter than when you woke up.
CHARLIE MUNGER






