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.
CHARLIE MUNGERIt’s a good habit to trumpet your failures and be quiet about your successes.
More Charlie Munger Quotes
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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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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.
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Go to bed smarter than when you woke up.
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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 stupid the way people extrapolate the past — and not slightly stupid, but massively stupid.
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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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Any year that you don’t destroy one of your best-loved ideas is probably a wasted year.
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Just avoid things like racing trains to the crossing, doing cocaine, etc. Develop good mental habits.
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There has never been a master plan. Anyone who wanted to do it, we fired because it takes on a life of its own and doesn’t cover new reality. We want people taking into account new information.
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The best thing a human being can do is to help another human being know more.
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If you can buy the best companies, over time the pricing takes care of itself.
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A great business at a fair price is superior to a fair business at a great price.
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Hard work, honesty, if you keep at it, will get you almost anything.
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The wise ones bet heavily when the world offers them that opportunity. They bet big when they have the odds. And the rest of the time, they don’t. It’s just that simple.
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There is bound to be a regression toward the mean.
CHARLIE MUNGER