If you get into the mental habit of relating what you’re reading to the basic structure of the underlying ideas being demonstrated, you gradually accumulate some wisdom.
CHARLIE MUNGERIf you get into the mental habit of relating what you’re reading to the basic structure of the underlying ideas being demonstrated, you gradually accumulate some wisdom.
CHARLIE MUNGERThe game of life is the game of everlasting learning. At least it is if you want to win.
CHARLIE MUNGERJust avoid things like racing trains to the crossing, doing cocaine, etc. Develop good mental habits.
CHARLIE MUNGERWe don’t like trading agony for money
CHARLIE MUNGERWhen you locate a bargain, you must ask, ‘Why me, God? Why am I the only one who could find this bargain?’
CHARLIE MUNGERIt 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 MUNGERPeople always underestimate the ability of earth to increase its carrying capacity.
CHARLIE MUNGERThere is bound to be a regression toward the mean.
CHARLIE MUNGERGreat investing requires a lot of delayed gratification.
CHARLIE MUNGERCommon 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 MUNGERI try to get rid of people who always confidently answer questions about which they don’t have any real knowledge.
CHARLIE MUNGERThere 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 MUNGERThe big money is not in the buying and selling, but in the waiting.
CHARLIE MUNGERThe best thing a human being can do is to help another human being know more.
CHARLIE MUNGEROpportunity comes to the prepared mind.
CHARLIE MUNGERI’m right, and you’re smart, and sooner or later you’ll see I’m right.
CHARLIE MUNGER