We don’t like trading agony for money
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’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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Never, ever, think about something else when you should be thinking about the power of incentives.
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Investing is where you find a few great companies and then sit on your ass.
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It’s been my experience in life if you just keep thinking and reading, you don’t have to work.
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To the man with only a hammer, every problem looks like a nail.
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If you can buy the best companies, over time the pricing takes care of itself.
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Bull markets go to people’s heads. If you’re a duck on a pond, and it’s rising due to a downpour, you start going up in the world. But you think it’s you, not the pond.
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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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The best thing a human being can do is to help another human being know more.
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Knowing what you don’t know is more useful than being brilliant.
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Your life must focus on the maximization of objectivity.
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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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I never allow myself to have an opinion on anything that I don’t know the other side’s argument better than they do.
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The safest way to get what you want is to deserve what you want.
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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 MUNGER