This is a good life lesson: getting the right people into your system is the most important thing you can do.
CHARLIE MUNGERThe 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.
More Charlie Munger Quotes
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Show me the incentive and I will show you the outcome.
CHARLIE MUNGER -
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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The average result has to be the average result. By definition, everybody can’t beat the market. As I always say, the iron rule of life is that only 20% of the people can be in the top fifth. That’s just the way it is.
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I did not succeed in life by intelligence. I succeeded because I have a long attention span.
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If you can buy the best companies, over time the pricing takes care of itself.
CHARLIE MUNGER -
A lot of our respected financial institutions are just casinos in drag.
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In my whole life, I have known no wise people who didn’t read all the time – none … ZERO.
CHARLIE MUNGER -
Move only when you have an advantage. It’s very basic. You have to understand the odds and have the discipline to bet only when the odds are in your favor.
CHARLIE MUNGER -
Just avoid things like racing trains to the crossing, doing cocaine, etc. Develop good mental habits.
CHARLIE MUNGER -
You’re not going to get very far in life based on what you already know. You’re going to advance in life by what you’re going to learn after you leave here.
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 -
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.
CHARLIE MUNGER -
I don’t spend much time regretting the past, once I’ve taken my lesson from it. I don’t dwell on it.
CHARLIE MUNGER -
Opportunity comes to the prepared mind.
CHARLIE MUNGER -
There is bound to be a regression toward the mean.
CHARLIE MUNGER