Hard work, honesty, if you keep at it, will get you almost anything.
CHARLIE MUNGERI did not succeed in life by intelligence. I succeeded because I have a long attention span.
More Charlie Munger Quotes
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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.
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The way to win is to work, work, work, work and hope to have a few insights And you’re probably not going to be smart enough to find thousands in a lifetime. And when you get a few, you really load up. It’s just that simple.
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There is bound to be a regression toward the mean.
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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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Bull markets go to people’s heads. If you’re a duck on a pond, and it’s rising due to a downpour, you start going up in the world. But you think it’s you, not the pond.
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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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People always underestimate the ability of earth to increase its carrying capacity.
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Step by step you get ahead, but rarely in fast spurts.
CHARLIE MUNGER -
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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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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We try more to profit from always remembering the obvious than from grasping the esoteric.
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This is a good life lesson: getting the right people into your system is the most important thing you can do.
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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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If you don’t allow for self-serving bias in the conduct of others, you are, again, a fool.
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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.
CHARLIE MUNGER