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Hard work, honesty, if you keep at it, will get you almost anything.

Charlie Munger

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 MUNGER

Confirmation Experience Financial Preparation Result
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.
CHARLIE MUNGER

Fall Learning Life Open People School Success Yourself
It’s a good habit to trumpet your failures and be quiet about your successes.
CHARLIE MUNGER

Failure Goodness Habit Quiet Success Yourself
If you can buy the best companies, over time the pricing takes care of itself.
CHARLIE MUNGER

Best Care Company Price Time Yourself
The best thing a human being can do is to help another human being know more.
CHARLIE MUNGER

Best Compassionate Empathy Help Human Kindness Learning
Common stock investors can make money by predicting the outcomes of practice evolution. You can’t derive this by fundamental analysis – you must think biologically.
CHARLIE MUNGER

Biology Evolution Investment Money Practice Prediction Thinking
I try to get rid of people who always confidently answer questions about which they don’t have any real knowledge.
CHARLIE MUNGER

Confidence Myself People Question Reality Try
Step by step you get ahead, but rarely in fast spurts.
CHARLIE MUNGER

Fast Rare Yourself
How do you compete against a true fanatic? You can only try to build the best possible moat and continuously attempt to widen it.
CHARLIE MUNGER

Best Build Possible Rival True Yourself
It’s been my experience in life if you just keep thinking and reading, you don’t have to work.
CHARLIE MUNGER

Experience Life Reading Thinking Yourself
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.
CHARLIE MUNGER

Enough Gamble Investment Price Value
It is remarkable how much long-term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very intelligent.
CHARLIE MUNGER

Advantage Consistent Intelligence People Remark Stupidity Try
A great business at a fair price is superior to a fair business at a great price.
CHARLIE MUNGER

Business Choice Greatness Price
Whenever you think something or some person is ruining your life, it’s you. A victimization mentality is so debilitating.
CHARLIE MUNGER

Life Mental Person Ruin Thinking Yourself
The safest way to get what you want is to deserve what you want.
CHARLIE MUNGER

Deserve Safety Way Worth Yourself
We don’t like trading agony for money
CHARLIE MUNGER

Agony Money Trade
Your life must focus on the maximization of objectivity.
CHARLIE MUNGER

Focus Life Object Yourself
Why should it be easy to do something that, if done well, two or three times, will make your family rich for life?
CHARLIE MUNGER

Easy Family Life Rich Time Yourself
A lot of our respected financial institutions are just casinos in drag.
CHARLIE MUNGER

Financial Institution Money Respect
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.
CHARLIE MUNGER

Average Definition Life Marketing Myself People Result Rule
Just avoid things like racing trains to the crossing, doing cocaine, etc. Develop good mental habits.
CHARLIE MUNGER

Avoid Development Habit Mental Race Training
In my whole life, I have known no wise people who didn’t read all the time – none … ZERO.
CHARLIE MUNGER

Known Life Myself People Reading Time Wisdom
It’s stupid the way people extrapolate the past — and not slightly stupid, but massively stupid.
CHARLIE MUNGER

People Past Stupidity Way
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.
CHARLIE MUNGER

Head Marketing People Rise Start Thinking World Yourself
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.
CHARLIE MUNGER

Beginning Save Time Yourself
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.
CHARLIE MUNGER

Learning Leaving Life Yourself
It’s not greed that drives the world, but envy.
CHARLIE MUNGER

Drive Greedy Jealous World

Hard work, honesty, if you keep at it, will get you almost anything.

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Hard work, honesty, if you keep at it, will get you almost anything.

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