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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 Munger

I don’t spend much time regretting the past, once I’ve taken my lesson from it. I don’t dwell on it.
CHARLIE MUNGER

Lesson Myself Past Regret Time
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 MUNGER

Hope Life Simplicity Time Win Work Yourself
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

Amazing Consistency Easy Learning Principle See
Move only when you have an advantage. It’s very basic. You have to understand the odds and have the discipline to bet only when the odds are in your favor.
CHARLIE MUNGER

Advantage Basic Discipline Move Yourself
I never allow myself to have an opinion on anything that I don’t know the other side’s argument better than they do.
CHARLIE MUNGER

Argument Myself Opinion Side
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.
CHARLIE MUNGER

Learning Leaving Life Yourself
There is bound to be a regression toward the mean.
CHARLIE MUNGER

Bound Method Regression
The more hard lessons you can learn vicariously rather than through your own hard experience, the better.
CHARLIE MUNGER

Better Experience Hard Lesson Yourself
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.
CHARLIE MUNGER

Learning Mistake People Stupidity Trick Wonderful
This is a good life lesson: getting the right people into your system is the most important thing you can do.
CHARLIE MUNGER

Goodness Important Lesson Life People Right System Yourself
Any year that you don’t destroy one of your best-loved ideas is probably a wasted year.
CHARLIE MUNGER

Best Destroy Ideas Love Wasted Time Yourself
Our job is to find a few intelligent things to do, not to keep up with every damn thing in the world.
CHARLIE MUNGER

Intelligence Job Ourselves World
The wise ones bet heavily when the world offers them that opportunity. They bet big when they have the odds. And the rest of the time, they don’t. It’s just that simple.
CHARLIE MUNGER

Big heavy Offering Oneself Opportunity Simplicity Time Wisdom World
A great business at a fair price is superior to a fair business at a great price.
CHARLIE MUNGER

Business Choice Greatness Price
I think that, every time you saw the word EBITDA, you should substitute the word “bullshit” earnings.
CHARLIE MUNGER

Myself Substitution Thinking Time
You must force yourself to consider opposing arguments. Especially when they challenge your best loved ideas.
CHARLIE MUNGER

Argument Best Challenge Force Ideas Love

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.

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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.

Related Topics

Popular Authors

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