It is remarkable how much long-term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very intelligent.
CHARLIE MUNGERPeople always underestimate the ability of earth to increase its carrying capacity.
More Charlie Munger Quotes
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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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The game of life is the game of everlasting learning. At least it is if you want to win.
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I did not succeed in life by intelligence. I succeeded because I have a long attention span.
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Bull markets go to people’s heads. If you’re a duck on a pond, and it’s rising due to a downpour, you start going up in the world. But you think it’s you, not the pond.
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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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You must force yourself to consider opposing arguments. Especially when they challenge your best loved ideas.
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We have found in a long life that one competitor is frequently enough to ruin a business.
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Hard work, honesty, if you keep at it, will get you almost anything.
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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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I’m right, and you’re smart, and sooner or later you’ll see I’m right.
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Your life must focus on the maximization of objectivity.
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Common stock investors can make money by predicting the outcomes of practice evolution. You can’t derive this by fundamental analysis – you must think biologically.
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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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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 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.
CHARLIE MUNGER