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.
CHARLIE MUNGERWe have found in a long life that one competitor is frequently enough to ruin a business.
More Charlie Munger Quotes
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There is bound to be a regression toward the mean.
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There are worse situations than drowning in cash and sitting, sitting, sitting. I remember when I wasn’t awash in cash — and I don’t want to go back.
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You’re not going to get very far in life based on what you already know. You’re going to advance in life by what you’re going to learn after you leave here.
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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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There’s no way that you can live an adequate life without many mistakes. In fact, one trick in life is to get so you can handle mistakes. Failure to handle psychological denial is a common way for people to go broke.
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You must force yourself to consider opposing arguments. Especially when they challenge your best loved ideas.
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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 big money is not in the buying and selling, but in the waiting.
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I believe in the discipline of mastering the best that other people have ever figured out. I don’t believe in just sitting down and trying to dream it all up yourself. Nobody’s that smart.
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The best thing a human being can do is to help another human being know more.
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We have found in a long life that one competitor is frequently enough to ruin a business.
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We don’t like trading agony for money
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Your life must focus on the maximization of objectivity.
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Show me the incentive and I will show you the outcome.
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I try to get rid of people who always confidently answer questions about which they don’t have any real knowledge.
CHARLIE MUNGER