I don’t spend much time regretting the past, once I’ve taken my lesson from it. I don’t dwell on it.
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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It’s not greed that drives the world, but envy.
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We don’t like trading agony for money
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When you locate a bargain, you must ask, ‘Why me, God? Why am I the only one who could find this bargain?’
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Hard work, honesty, if you keep at it, will get you almost anything.
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Never, ever, think about something else when you should be thinking about the power of incentives.
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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 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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Investing is where you find a few great companies and then sit on your ass.
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Show me the incentive and I will show you the outcome.
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Bull markets go to people’s heads. If you’re a duck on a pond, and it’s rising due to a downpour, you start going up in the world. But you think it’s you, not the pond.
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If we’ve been a little more successful than other people, is because we always realised that the school of life was always open, and if you were not learning more you are falling behind.
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If the value of a company doesn’t just scream out at you, it’s too close.
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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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Knowing what you don’t know is more useful than being brilliant.
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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.
CHARLIE MUNGER