If you get into the mental habit of relating what you’re reading to the basic structure of the underlying ideas being demonstrated, you gradually accumulate some wisdom.
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.
More Charlie Munger Quotes
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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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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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Your life must focus on the maximization of objectivity.
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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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To me, it’s obvious that the winner has to bet very selectively. It’s been obvious to me since very early in life. I don’t know why it’s not obvious to very many other people.
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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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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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I like people admitting they were complete stupid horses’ asses. I know I’ll perform better if I rub my nose in my mistakes. This is a wonderful trick to learn.
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We don’t like trading agony for money
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Step by step you get ahead, but rarely in fast spurts.
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It’s a good habit to trumpet your failures and be quiet about your successes.
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Someone will always be getting richer faster than you. This is not a tragedy.
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It takes character to sit there with all that cash and do nothing. I didn’t get to where I am by going after mediocre opportunities.
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The safest way to get what you want is to deserve what you want.
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A lot of our respected financial institutions are just casinos in drag.
CHARLIE MUNGER