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 MUNGERWe try more to profit from always remembering the obvious than from grasping the esoteric.
More Charlie Munger Quotes
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The big money is not in the buying and selling, but in the waiting.
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Step by step you get ahead, but rarely in fast spurts.
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To the man with only a hammer, every problem looks like a nail.
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People always underestimate the ability of earth to increase its carrying capacity.
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If you don’t keep learning, other people will pass you by. Temperament alone won’t do it – you need a lot of curiosity for a long, long time.
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If you can buy the best companies, over time the pricing takes care of itself.
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I try to get rid of people who always confidently answer questions about which they don’t have any real knowledge.
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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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Any year that you don’t destroy one of your best-loved ideas is probably a wasted year.
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Investing is where you find a few great companies and then sit on your ass.
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Acknowledging what you don’t know is the dawning of wisdom.
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The safest way to get what you want is to deserve what you want.
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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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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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Knowing what you don’t know is more useful than being brilliant.
CHARLIE MUNGER