The safest way to get what you want is to deserve what you want.
CHARLIE MUNGER
You’re looking for a mispriced gamble. That’s what investing is. And you have to know enough to know whether the gamble is mispriced. That’s value investing.
More Charlie Munger Quotes
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The safest way to get what you want is to deserve what you want.
CHARLIE MUNGER -
A great business at a fair price is superior to a fair business at a great price.
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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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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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Why should it be easy to do something that, if done well, two or three times, will make your family rich for life?
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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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I don’t spend much time regretting the past, once I’ve taken my lesson from it. I don’t dwell on it.
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Our experience tends to confirm a long-held notion that being prepared, on a few occasions in a lifetime, to act promptly in scale, in doing some simple and logical thing, will often dramatically improve the financial results of that lifetime.
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The wise ones bet heavily when the world offers them that opportunity. They bet big when they have the odds. And the rest of the time, they don’t. It’s just that simple.
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Opportunity comes to the prepared mind.
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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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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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A lot of success in life and business comes from knowing what you want to avoid: early death, a bad marriage, etc.
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I never allow myself to have an opinion on anything that I don’t know the other side’s argument better than they do.
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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.
CHARLIE MUNGER