It’s waiting that helps you as an investor, and a lot of people just can’t stand to wait. If you didn’t get the deferred-gratification gene, you’ve got to work very hard to overcome that.
CHARLIE MUNGERIt’s a good habit to trumpet your failures and be quiet about your successes.
More Charlie Munger Quotes
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All I want to know is where I’m going to die, so I’ll never go there.
CHARLIE MUNGER -
A foreign correspondent, after talking to me for a while, once said: “You don’t seem smart enough to be so good at what you’re doing. Do you have an explanation?”
CHARLIE MUNGER -
The best thing a human being can do is to help another human being know more.
CHARLIE MUNGER -
I try to get rid of people who always confidently answer questions about which they don’t have any real knowledge.
CHARLIE MUNGER -
We don’t like trading agony for money
CHARLIE MUNGER -
Most people are too fretful, they worry to much. Success means being very patient, but aggressive when it’s time.
CHARLIE MUNGER -
Our job is to find a few intelligent things to do, not to keep up with every damn thing in the world.
CHARLIE MUNGER -
Knowing what you don’t know is more useful than being brilliant.
CHARLIE MUNGER -
I’m right, and you’re smart, and sooner or later you’ll see I’m right.
CHARLIE MUNGER -
The more hard lessons you can learn vicariously rather than through your own hard experience, the better.
CHARLIE MUNGER -
People always underestimate the ability of earth to increase its carrying capacity.
CHARLIE MUNGER -
To me, it’s obvious that the winner has to bet very selectively. It’s been obvious to me since very early in life. I don’t know why it’s not obvious to very many other people.
CHARLIE MUNGER -
There is bound to be a regression toward the mean.
CHARLIE MUNGER -
If you don’t allow for self-serving bias in the conduct of others, you are, again, a fool.
CHARLIE MUNGER -
The game of life is the game of everlasting learning. At least it is if you want to win.
CHARLIE MUNGER