There has never been a master plan. Anyone who wanted to do it, we fired because it takes on a life of its own and doesn’t cover new reality. We want people taking into account new information.
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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There is bound to be a regression toward the mean.
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Why should it be easy to do something that, if done well, two or three times, will make your family rich for life?
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A foreign correspondent, after talking to me for a while, once said: “You don’t seem smart enough to be so good at what you’re doing. Do you have an explanation?”
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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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The best thing a human being can do is to help another human being know more.
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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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Three 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.
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The game of life is the game of everlasting learning. At least it is if you want to win.
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People always underestimate the ability of earth to increase its carrying capacity.
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The average result has to be the average result. By definition, everybody can’t beat the market. As I always say, the iron rule of life is that only 20% of the people can be in the top fifth. That’s just the way it is.
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Acknowledging what you don’t know is the dawning of wisdom.
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Step by step you get ahead, but rarely in fast spurts.
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If the value of a company doesn’t just scream out at you, it’s too close.
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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.
CHARLIE MUNGER -
Show me the incentive and I will show you the outcome.
CHARLIE MUNGER






