It never ceases to amaze me to see how much territory can be grasped if one merely masters and consistently uses all the obvious and easily learned principles.
CHARLIE MUNGERIf 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.
More Charlie Munger Quotes
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You’re looking for a mispriced gamble. That’s what investing is. And you have to know enough to know whether the gamble is mispriced. That’s value investing.
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I never allow myself to have an opinion on anything that I don’t know the other side’s argument better than they do.
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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 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.
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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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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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Opportunity comes to the prepared mind.
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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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Show me the incentive and I will show you the outcome.
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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.
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Any year that you don’t destroy one of your best-loved ideas is probably a wasted year.
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Your life must focus on the maximization of objectivity.
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I believe in the discipline of mastering the best that other people have ever figured out. I don’t believe in just sitting down and trying to dream it all up yourself. Nobody’s that smart.
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Hard work, honesty, if you keep at it, will get you almost anything.
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To the man with only a hammer, every problem looks like a nail.
CHARLIE MUNGER






