There are worse situations than drowning in cash and sitting, sitting, sitting. I remember when I wasn’t awash in cash — and I don’t want to go back.
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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I like people admitting they were complete stupid horses’ asses. I know I’ll perform better if I rub my nose in my mistakes. This is a wonderful trick to learn.
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Knowing what you don’t know is more useful than being brilliant.
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The best thing a human being can do is to help another human being know more.
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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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All I want to know is where I’m going to die, so I’ll never go there.
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Your life must focus on the maximization of objectivity.
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I did not succeed in life by intelligence. I succeeded because I have a long attention span.
CHARLIE MUNGER -
It’s a good habit to trumpet your failures and be quiet about your successes.
CHARLIE MUNGER -
Three rules for a career: 1) Don’t sell anything you wouldn’t buy yourself; 2) Don’t work for anyone you don’t respect and admire; and 3) Work only with people you enjoy.
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We don’t like trading agony for money
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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.
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If you don’t allow for self-serving bias in the conduct of others, you are, again, a fool.
CHARLIE MUNGER -
Never, ever, think about something else when you should be thinking about the power of incentives.
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It’s waiting that helps you as an investor, and a lot of people just can’t stand to wait. If you didn’t get the deferred-gratification gene, you’ve got to work very hard to overcome that.
CHARLIE MUNGER -
Go to bed smarter than when you woke up.
CHARLIE MUNGER