The more hard lessons you can learn vicariously rather than through your own hard experience, the better.
CHARLIE MUNGERIt’s not greed that drives the world, but envy.
More Charlie Munger Quotes
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The big money is not in the buying and selling, but in the waiting.
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Opportunity comes to the prepared mind.
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It’s not greed that drives the world, but envy.
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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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Spend less than you make; always be saving something. Put it into a tax-deferred account. Over time, it will begin to amount to something. This is such a no-brainer.
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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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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.
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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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A lot of our respected financial institutions are just casinos in drag.
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Three rules for a career: 1) Don’t sell anything you wouldn’t buy yourself; 2) Don’t work for anyone you don’t respect and admire; and 3) Work only with people you enjoy.
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Your life must focus on the maximization of objectivity.
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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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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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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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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






