I’m not entitled to have an opinion unless I can state the arguments against my position better than the people who are in opposition. I think that I am qualified to speak only when I’ve reached that state.
CHARLIE MUNGERIt 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.
More Charlie Munger Quotes
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Someone will always be getting richer faster than you. This is not a tragedy.
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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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Hard work, honesty, if you keep at it, will get you almost anything.
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The iron rule of nature is: you get what you reward for. If you want ants to come, you put sugar on the floor.
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It’s not greed that drives the world, but envy.
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Great investing requires a lot of delayed gratification.
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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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I think that, every time you saw the word EBITDA, you should substitute the word “bullshit” earnings.
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Your life must focus on the maximization of objectivity.
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In my whole life, I have known no wise people who didn’t read all the time – none … ZERO.
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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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The best thing a human being can do is to help another human being know more.
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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.
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Go to bed smarter than when you woke up.
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It’s been my experience in life if you just keep thinking and reading, you don’t have to work.
CHARLIE MUNGER