If you want to understand science, you have to understand math. In business, if you’re enumerate, you’re going to be a klutz. The good thing about business is that you don’t have to know any higher math.
CHARLIE MUNGERKnowing what you don’t know is more useful than being brilliant.
More Charlie Munger Quotes
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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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Step by step you get ahead, but rarely in fast spurts.
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You must force yourself to consider opposing arguments. Especially when they challenge your best loved ideas.
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Show me the incentive and I will show you the outcome.
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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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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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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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The more hard lessons you can learn vicariously rather than through your own hard experience, the better.
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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.
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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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I’m right, and you’re smart, and sooner or later you’ll see I’m right.
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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.
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It’s not greed that drives the world, but envy.
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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 did not succeed in life by intelligence. I succeeded because I have a long attention span.
CHARLIE MUNGER