Why should it be easy to do something that, if done well, two or three times, will make your family rich for life?
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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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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Show me the incentive and I will show you the outcome.
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To the man with only a hammer, every problem looks like a nail.
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In my whole life, I have known no wise people who didn’t read all the time – none … ZERO.
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Knowing what you don’t know is more useful than being brilliant.
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Never, ever, think about something else when you should be thinking about the power of incentives.
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Stock-picking is like gambling: those who win well, seldom bet, but when they do, they bet heavily.
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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.
CHARLIE MUNGER -
All I want to know is where I’m going to die, so I’ll never go there.
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It’s stupid the way people extrapolate the past — and not slightly stupid, but massively stupid.
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There is bound to be a regression toward the mean.
CHARLIE MUNGER -
The best thing a human being can do is to help another human being know more.
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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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There’s no way that you can live an adequate life without many mistakes. In fact, one trick in life is to get so you can handle mistakes. Failure to handle psychological denial is a common way for people to go broke.
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If you can buy the best companies, over time the pricing takes care of itself.
CHARLIE MUNGER