If you don’t allow for self-serving bias in the conduct of others, you are, again, a fool.
CHARLIE MUNGERThere is bound to be a regression toward the mean.
More Charlie Munger Quotes
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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.
CHARLIE MUNGER -
Why should it be easy to do something that, if done well, two or three times, will make your family rich for life?
CHARLIE MUNGER -
The safest way to get what you want is to deserve what you want.
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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.
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It’s been my experience in life if you just keep thinking and reading, you don’t have to work.
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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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I don’t spend much time regretting the past, once I’ve taken my lesson from it. I don’t dwell on it.
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A great business at a fair price is superior to a fair business at a great price.
CHARLIE MUNGER -
It 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.
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The game of life is the game of everlasting learning. At least it is if you want to win.
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Step by step you get ahead, but rarely in fast spurts.
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Hard work, honesty, if you keep at it, will get you almost anything.
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The iron rule of nature is: you get what you reward for. If you want ants to come, you put sugar on the floor.
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Our experience tends to confirm a long-held notion that being prepared, on a few occasions in a lifetime, to act promptly in scale, in doing some simple and logical thing, will often dramatically improve the financial results of that lifetime.
CHARLIE MUNGER -
I think that, every time you saw the word EBITDA, you should substitute the word “bullshit” earnings.
CHARLIE MUNGER