The game of life is the game of everlasting learning. At least it is if you want to win.
CHARLIE MUNGERHard work, honesty, if you keep at it, will get you almost anything.
More Charlie Munger Quotes
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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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The more hard lessons you can learn vicariously rather than through your own hard experience, the better.
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You don’t have to have perfect wisdom to get very rich – just a bit better than average over a long period of time.
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We try more to profit from always remembering the obvious than from grasping the esoteric.
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People always underestimate the ability of earth to increase its carrying capacity.
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The average result has to be the average result. By definition, everybody can’t beat the market. As I always say, the iron rule of life is that only 20% of the people can be in the top fifth. That’s just the way it is.
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Opportunity comes to the prepared mind.
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The big money is not in the buying and selling, but in the waiting.
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Someone will always be getting richer faster than you. This is not a tragedy.
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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 been my experience in life if you just keep thinking and reading, you don’t have to work.
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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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A lot of our respected financial institutions are just casinos in drag.
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Investing is where you find a few great companies and then sit on your ass.
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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?’
CHARLIE MUNGER