When you locate a bargain, you must ask, ‘Why me, God? Why am I the only one who could find this bargain?’
CHARLIE MUNGERJust avoid things like racing trains to the crossing, doing cocaine, etc. Develop good mental habits.
More Charlie Munger Quotes
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The best thing a human being can do is to help another human being know more.
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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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Opportunity comes to the prepared mind.
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I think that, every time you saw the word EBITDA, you should substitute the word “bullshit” earnings.
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Whenever you think something or some person is ruining your life, it’s you. A victimization mentality is so debilitating.
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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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A lot of our respected financial institutions are just casinos in drag.
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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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The safest way to get what you want is to deserve what you want.
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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.
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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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We have found in a long life that one competitor is frequently enough to ruin a business.
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Never, ever, think about something else when you should be thinking about the power of incentives.
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There is bound to be a regression toward the mean.
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I did not succeed in life by intelligence. I succeeded because I have a long attention span.
CHARLIE MUNGER