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 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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Your life must focus on the maximization of objectivity.
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Our experience tends to confirm a long-held notion that being prepared, on a few occasions in a lifetime, to act promptly in scale, in doing some simple and logical thing, will often dramatically improve the financial results of that lifetime.
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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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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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If you can buy the best companies, over time the pricing takes care of itself.
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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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It never ceases to amaze me to see how much territory can be grasped if one merely masters and consistently uses all the obvious and easily learned principles.
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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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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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Knowing what you don’t know is more useful than being brilliant.
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Just avoid things like racing trains to the crossing, doing cocaine, etc. Develop good mental habits.
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We try more to profit from always remembering the obvious than from grasping the esoteric.
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The game of life is the game of everlasting learning. At least it is if you want to win.
CHARLIE MUNGER -
The iron rule of nature is: you get what you reward for. If you want ants to come, you put sugar on the floor.
CHARLIE MUNGER -
All I want to know is where I’m going to die, so I’ll never go there.
CHARLIE MUNGER