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I don’t spend much time regretting the past, once I’ve taken my lesson from it. I don’t dwell on it.

Charlie Munger

Move only when you have an advantage. It’s very basic. You have to understand the odds and have the discipline to bet only when the odds are in your favor.
CHARLIE MUNGER

Advantage Basic Discipline Move Yourself
Someone will always be getting richer faster than you. This is not a tragedy.
CHARLIE MUNGER

Fast Rich Tragedy Yourself
I think that, every time you saw the word EBITDA, you should substitute the word “bullshit” earnings.
CHARLIE MUNGER

Myself Substitution Thinking Time
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

Believe Best Master Myself People Smart
The safest way to get what you want is to deserve what you want.
CHARLIE MUNGER

Deserve Safety Way Worth Yourself
It’s a good habit to trumpet your failures and be quiet about your successes.
CHARLIE MUNGER

Failure Goodness Habit Quiet Success 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
The game of life is the game of everlasting learning. At least it is if you want to win.
CHARLIE MUNGER

Game Last Learning Life Win 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
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

Enough Explanation Goodness Smart Talk Yourself
I never allow myself to have an opinion on anything that I don’t know the other side’s argument better than they do.
CHARLIE MUNGER

Argument Myself Opinion Side
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
Acknowledging what you don’t know is the dawning of wisdom.
CHARLIE MUNGER

Acknowledgement Beginning Wisdom 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
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
There is bound to be a regression toward the mean.
CHARLIE MUNGER

Bound Method Regression

I don’t spend much time regretting the past, once I’ve taken my lesson from it. I don’t dwell on it.

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I don’t spend much time regretting the past, once I’ve taken my lesson from it. I don’t dwell on it.

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