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 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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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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If you can buy the best companies, over time the pricing takes care of itself.
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Spend less than you make; always be saving something. Put it into a tax-deferred account. Over time, it will begin to amount to something. This is such a no-brainer.
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The safest way to get what you want is to deserve what you want.
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Great investing requires a lot of delayed gratification.
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Show me the incentive and I will show you the outcome.
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Whenever you think something or some person is ruining your life, it’s you. A victimization mentality is so debilitating.
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All I want to know is where I’m going to die, so I’ll never go there.
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We try more to profit from always remembering the obvious than from grasping the esoteric.
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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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If you don’t keep learning, other people will pass you by. Temperament alone won’t do it – you need a lot of curiosity for a long, long time.
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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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The wise ones bet heavily when the world offers them that opportunity. They bet big when they have the odds. And the rest of the time, they don’t. It’s just that simple.
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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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You must force yourself to consider opposing arguments. Especially when they challenge your best loved ideas.
CHARLIE MUNGER