Common stock investors can make money by predicting the outcomes of practice evolution. You can’t derive this by fundamental analysis – you must think biologically.
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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A great business at a fair price is superior to a fair business at a great price.
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The 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.
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Opportunity comes to the prepared mind.
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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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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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It’s stupid the way people extrapolate the past — and not slightly stupid, but massively stupid.
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It’s not greed that drives the world, but envy.
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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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The 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.
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Whenever you think something or some person is ruining your life, it’s you. A victimization mentality is so debilitating.
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You don’t have to have perfect wisdom to get very rich – just a bit better than average over a long period of time.
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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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It’s been my experience in life if you just keep thinking and reading, you don’t have to work.
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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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It never ceases to amaze me to see how much territory can be grasped if one merely masters and consistently uses all the obvious and easily learned principles.
CHARLIE MUNGER






