Step by step you get ahead, but rarely in fast spurts.
CHARLIE MUNGERStep by step you get ahead, but rarely in fast spurts.
CHARLIE MUNGERTo me, it’s obvious that the winner has to bet very selectively. It’s been obvious to me since very early in life. I don’t know why it’s not obvious to very many other people.
CHARLIE MUNGERIf you don’t allow for self-serving bias in the conduct of others, you are, again, a fool.
CHARLIE MUNGERIf 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.
CHARLIE MUNGERThe big money is not in the buying and selling, but in the waiting.
CHARLIE MUNGERBull markets go to people’s heads. If you’re a duck on a pond, and it’s rising due to a downpour, you start going up in the world. But you think it’s you, not the pond.
CHARLIE MUNGERIt takes character to sit there with all that cash and do nothing. I didn’t get to where I am by going after mediocre opportunities.
CHARLIE MUNGERSpend less than you make; always be saving something. Put it into a tax-deferred account. Over time, it will begin to amount to something. This is such a no-brainer.
CHARLIE MUNGERYou don’t have to have perfect wisdom to get very rich – just a bit better than average over a long period of time.
CHARLIE MUNGERI’m not entitled to have an opinion unless I can state the arguments against my position better than the people who are in opposition. I think that I am qualified to speak only when I’ve reached that state.
CHARLIE MUNGERPeople always underestimate the ability of earth to increase its carrying capacity.
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 MUNGERThe more hard lessons you can learn vicariously rather than through your own hard experience, the better.
CHARLIE MUNGERAll I want to know is where I’m going to die, so I’ll never go there.
CHARLIE MUNGERA lot of our respected financial institutions are just casinos in drag.
CHARLIE MUNGERWe try more to profit from always remembering the obvious than from grasping the esoteric.
CHARLIE MUNGER