We try more to profit from always remembering the obvious than from grasping the esoteric.
CHARLIE MUNGERThis is a good life lesson: getting the right people into your system is the most important thing you can do.
More Charlie Munger Quotes
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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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I did not succeed in life by intelligence. I succeeded because I have a long attention span.
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The more hard lessons you can learn vicariously rather than through your own hard experience, the better.
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You must force yourself to consider opposing arguments. Especially when they challenge your best loved ideas.
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A lot of success in life and business comes from knowing what you want to avoid: early death, a bad marriage, etc.
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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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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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Investing is where you find a few great companies and then sit on your ass.
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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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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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Step by step you get ahead, but rarely in fast spurts.
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Never, ever, think about something else when you should be thinking about the power of incentives.
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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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Acknowledging what you don’t know is the dawning of wisdom.
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We have found in a long life that one competitor is frequently enough to ruin a business.
CHARLIE MUNGER