A lot of our respected financial institutions are just casinos in drag.
CHARLIE MUNGER
If you get into the mental habit of relating what you’re reading to the basic structure of the underlying ideas being demonstrated, you gradually accumulate some wisdom.
More Charlie Munger Quotes
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A lot of our respected financial institutions are just casinos in drag.
CHARLIE MUNGER -
Step by step you get ahead, but rarely in fast spurts.
CHARLIE MUNGER -
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 MUNGER -
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 -
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.
CHARLIE MUNGER -
If the value of a company doesn’t just scream out at you, it’s too close.
CHARLIE MUNGER -
The more hard lessons you can learn vicariously rather than through your own hard experience, the better.
CHARLIE MUNGER -
I try to get rid of people who always confidently answer questions about which they don’t have any real knowledge.
CHARLIE MUNGER -
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.
CHARLIE MUNGER -
Any year that you don’t destroy one of your best-loved ideas is probably a wasted year.
CHARLIE MUNGER -
This is a good life lesson: getting the right people into your system is the most important thing you can do.
CHARLIE MUNGER -
It’s a good habit to trumpet your failures and be quiet about your successes.
CHARLIE MUNGER -
If you can buy the best companies, over time the pricing takes care of itself.
CHARLIE MUNGER -
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 MUNGER -
It’s stupid the way people extrapolate the past — and not slightly stupid, but massively stupid.
CHARLIE MUNGER -
How do you compete against a true fanatic? You can only try to build the best possible moat and continuously attempt to widen it.
CHARLIE MUNGER