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.
CHARLIE MUNGERIf the value of a company doesn’t just scream out at you, it’s too close.
More Charlie Munger Quotes
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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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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’m right, and you’re smart, and sooner or later you’ll see I’m right.
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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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Most people are too fretful, they worry to much. Success means being very patient, but aggressive when it’s time.
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Show me the incentive and I will show you the outcome.
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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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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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Knowing what you don’t know is more useful than being brilliant.
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It’s a good habit to trumpet your failures and be quiet about your successes.
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The iron rule of nature is: you get what you reward for. If you want ants to come, you put sugar on the floor.
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Investing is where you find a few great companies and then sit on your ass.
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If we’ve been a little more successful than other people, is because we always realised that the school of life was always open, and if you were not learning more you are falling behind.
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Acknowledging what you don’t know is the dawning of wisdom.
CHARLIE MUNGER