If you don’t allow for self-serving bias in the conduct of others, you are, again, a fool.
CHARLIE MUNGERSomeone will always be getting richer faster than you. This is not a tragedy.
More Charlie Munger Quotes
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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.
CHARLIE MUNGER -
Go to bed smarter than when you woke up.
CHARLIE MUNGER -
The more hard lessons you can learn vicariously rather than through your own hard experience, the better.
CHARLIE MUNGER -
To the man with only a hammer, every problem looks like a nail.
CHARLIE MUNGER -
Our job is to find a few intelligent things to do, not to keep up with every damn thing in the world.
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I think that, every time you saw the word EBITDA, you should substitute the word “bullshit” earnings.
CHARLIE MUNGER -
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.
CHARLIE MUNGER -
The wise ones bet heavily when the world offers them that opportunity. They bet big when they have the odds. And the rest of the time, they don’t. It’s just that simple.
CHARLIE MUNGER -
Acknowledging what you don’t know is the dawning of wisdom.
CHARLIE MUNGER -
The big money is not in the buying and selling, but in the waiting.
CHARLIE MUNGER -
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 -
It’s been my experience in life if you just keep thinking and reading, you don’t have to work.
CHARLIE MUNGER -
The game of life is the game of everlasting learning. At least it is if you want to win.
CHARLIE MUNGER -
You must force yourself to consider opposing arguments. Especially when they challenge your best loved ideas.
CHARLIE MUNGER -
Investing is where you find a few great companies and then sit on your ass.
CHARLIE MUNGER