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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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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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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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.
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Someone will always be getting richer faster than you. This is not a tragedy.
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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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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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Stock-picking is like gambling: those who win well, seldom bet, but when they do, they bet heavily.
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Go to bed smarter than when you woke up.
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Intelligent people make decisions based on opportunity costs.
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It’s not greed that drives the world, but envy.
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Great investing requires a lot of delayed gratification.
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If we’ve been a little more successful than other people, is because we always realised that the school of life was always open, and if you were not learning more you are falling behind.
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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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Never, ever, think about something else when you should be thinking about the power of incentives.
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I did not succeed in life by intelligence. I succeeded because I have a long attention span.
CHARLIE MUNGER