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.
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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Intelligent people make decisions based on opportunity costs.
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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?”
CHARLIE MUNGER -
All I want to know is where I’m going to die, so I’ll never go there.
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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.
CHARLIE MUNGER -
I think that, every time you saw the word EBITDA, you should substitute the word “bullshit” earnings.
CHARLIE MUNGER -
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.
CHARLIE MUNGER -
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 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.
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Go to bed smarter than when you woke up.
CHARLIE MUNGER -
Any year that you don’t destroy one of your best-loved ideas is probably a wasted year.
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It’s not greed that drives the world, but envy.
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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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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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Most people are too fretful, they worry to much. Success means being very patient, but aggressive when it’s time.
CHARLIE MUNGER