There’s no way that you can live an adequate life without many mistakes. In fact, one trick in life is to get so you can handle mistakes. Failure to handle psychological denial is a common way for people to go broke.
CHARLIE MUNGERThe iron rule of nature is: you get what you reward for. If you want ants to come, you put sugar on the floor.
More Charlie Munger Quotes
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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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Your life must focus on the maximization of objectivity.
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Step by step you get ahead, but rarely in fast spurts.
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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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You must force yourself to consider opposing arguments. Especially when they challenge your best loved ideas.
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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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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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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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Investing is where you find a few great companies and then sit on your ass.
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Show me the incentive and I will show you the outcome.
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It’s not greed that drives the world, but envy.
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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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Intelligent people make decisions based on opportunity costs.
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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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You don’t have to have perfect wisdom to get very rich – just a bit better than average over a long period of time.
CHARLIE MUNGER






