Our experience tends to confirm a long-held notion that being prepared, on a few occasions in a lifetime, to act promptly in scale, in doing some simple and logical thing, will often dramatically improve the financial results of that lifetime.
CHARLIE MUNGERWhenever you think something or some person is ruining your life, it’s you. A victimization mentality is so debilitating.
More Charlie Munger Quotes
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If you don’t allow for self-serving bias in the conduct of others, you are, again, a fool.
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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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Any year that you don’t destroy one of your best-loved ideas is probably a wasted year.
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I did not succeed in life by intelligence. I succeeded because I have a long attention span.
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Never, ever, think about something else when you should be thinking about the power of incentives.
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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 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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The safest way to get what you want is to deserve what you want.
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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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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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Why should it be easy to do something that, if done well, two or three times, will make your family rich for life?
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A great business at a fair price is superior to a fair business at a great price.
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We have found in a long life that one competitor is frequently enough to ruin a business.
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It takes character to sit there with all that cash and do nothing. I didn’t get to where I am by going after mediocre opportunities.
CHARLIE MUNGER