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 MUNGEROur job is to find a few intelligent things to do, not to keep up with every damn thing in the world.
More Charlie Munger Quotes
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There are worse situations than drowning in cash and sitting, sitting, sitting. I remember when I wasn’t awash in cash — and I don’t want to go back.
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I’m right, and you’re smart, and sooner or later you’ll see I’m right.
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It’s waiting that helps you as an investor, and a lot of people just can’t stand to wait. If you didn’t get the deferred-gratification gene, you’ve got to work very hard to overcome that.
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The game of life is the game of everlasting learning. At least it is if you want to win.
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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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The best thing a human being can do is to help another human being know more.
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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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It’s a good habit to trumpet your failures and be quiet about your successes.
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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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I like people admitting they were complete stupid horses’ asses. I know I’ll perform better if I rub my nose in my mistakes. This is a wonderful trick to learn.
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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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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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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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Most people are too fretful, they worry to much. Success means being very patient, but aggressive when it’s time.
CHARLIE MUNGER