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?”
CHARLIE MUNGERA lot of success in life and business comes from knowing what you want to avoid: early death, a bad marriage, etc.
More Charlie Munger Quotes
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I did not succeed in life by intelligence. I succeeded because I have a long attention span.
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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.
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If you want to understand science, you have to understand math. In business, if you’re enumerate, you’re going to be a klutz. The good thing about business is that you don’t have to know any higher math.
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Great investing requires a lot of delayed gratification.
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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.
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All I want to know is where I’m going to die, so I’ll never go there.
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Stock-picking is like gambling: those who win well, seldom bet, but when they do, they bet heavily.
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In my whole life, I have known no wise people who didn’t read all the time – none … ZERO.
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Opportunity comes to the prepared mind.
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If the value of a company doesn’t just scream out at you, it’s too close.
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We don’t like trading agony for money
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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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To the man with only a hammer, every problem looks like a nail.
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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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We try more to profit from always remembering the obvious than from grasping the esoteric.
CHARLIE MUNGER