The big money is not in the buying and selling, but in the waiting.
CHARLIE MUNGERWe try more to profit from always remembering the obvious than from grasping the esoteric.
More Charlie Munger Quotes
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Just avoid things like racing trains to the crossing, doing cocaine, etc. Develop good mental habits.
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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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We have found in a long life that one competitor is frequently enough to ruin a business.
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A foreign correspondent, after talking to me for a while, once said: “You don’t seem smart enough to be so good at what you’re doing. Do you have an explanation?”
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Spend less than you make; always be saving something. Put it into a tax-deferred account. Over time, it will begin to amount to something. This is such a no-brainer.
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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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Investing is where you find a few great companies and then sit on your ass.
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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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People always underestimate the ability of earth to increase its carrying capacity.
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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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It’s a good habit to trumpet your failures and be quiet about your successes.
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If you don’t allow for self-serving bias in the conduct of others, you are, again, a fool.
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The best thing a human being can do is to help another human being know more.
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The safest way to get what you want is to deserve what you want.
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Someone will always be getting richer faster than you. This is not a tragedy.
CHARLIE MUNGER