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 MUNGERYou’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 MUNGERIt’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.
CHARLIE MUNGEROur job is to find a few intelligent things to do, not to keep up with every damn thing in the world.
CHARLIE MUNGERAcknowledging what you don’t know is the dawning of wisdom.
CHARLIE MUNGERPeople always underestimate the ability of earth to increase its carrying capacity.
CHARLIE MUNGERI try to get rid of people who always confidently answer questions about which they don’t have any real knowledge.
CHARLIE MUNGERThe 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.
CHARLIE MUNGERThree rules for a career: 1) Don’t sell anything you wouldn’t buy yourself; 2) Don’t work for anyone you don’t respect and admire; and 3) Work only with people you enjoy.
CHARLIE MUNGERNever, ever, think about something else when you should be thinking about the power of incentives.
CHARLIE MUNGERSpend 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.
CHARLIE MUNGERThere 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.
CHARLIE MUNGERIt’s been my experience in life if you just keep thinking and reading, you don’t have to work.
CHARLIE MUNGERThe investment game always involves considering both quality and price, and the trick is to get more quality than you pay for in price. It’s just that simple.
CHARLIE MUNGERA lot of our respected financial institutions are just casinos in drag.
CHARLIE MUNGERGo to bed smarter than when you woke up.
CHARLIE MUNGERShow me the incentive and I will show you the outcome.
CHARLIE MUNGER