It’s been my experience in life if you just keep thinking and reading, you don’t have to work.
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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Most people are too fretful, they worry to much. Success means being very patient, but aggressive when it’s time.
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A lot of our respected financial institutions are just casinos in drag.
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If you get into the mental habit of relating what you’re reading to the basic structure of the underlying ideas being demonstrated, you gradually accumulate some wisdom.
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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.
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We have found in a long life that one competitor is frequently enough to ruin a business.
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When you locate a bargain, you must ask, ‘Why me, God? Why am I the only one who could find this bargain?’
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It’s stupid the way people extrapolate the past — and not slightly stupid, but massively stupid.
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You don’t have to have perfect wisdom to get very rich – just a bit better than average over a long period of time.
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The investment game always involves considering both quality and price, and the trick is to get more quality than you pay for in price. It’s just that simple.
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Never, ever, think about something else when you should be thinking about the power of incentives.
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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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In my whole life, I have known no wise people who didn’t read all the time – none … ZERO.
CHARLIE MUNGER -
The big money is not in the buying and selling, but in the waiting.
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Show me the incentive and I will show you the outcome.
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I try to get rid of people who always confidently answer questions about which they don’t have any real knowledge.
CHARLIE MUNGER