When you locate a bargain, you must ask, ‘Why me, God? Why am I the only one who could find this bargain?’
CHARLIE MUNGERThe game of life is the game of everlasting learning. At least it is if you want to win.
More Charlie Munger Quotes
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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.
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I never allow myself to have an opinion on anything that I don’t know the other side’s argument better than they do.
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People always underestimate the ability of earth to increase its carrying capacity.
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Our job is to find a few intelligent things to do, not to keep up with every damn thing in the world.
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Intelligent people make decisions based on opportunity costs.
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To the man with only a hammer, every problem looks like a nail.
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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.
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Your life must focus on the maximization of objectivity.
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Hard work, honesty, if you keep at it, will get you almost anything.
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The best thing a human being can do is to help another human being know more.
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Someone will always be getting richer faster than you. This is not a tragedy.
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Go to bed smarter than when you woke up.
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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.
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It takes character to sit there with all that cash and do nothing. I didn’t get to where I am by going after mediocre opportunities.
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Opportunity comes to the prepared mind.
CHARLIE MUNGER