Whenever you think something or some person is ruining your life, it’s you. A victimization mentality is so debilitating.
CHARLIE MUNGERA 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?”
More Charlie Munger Quotes
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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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When you locate a bargain, you must ask, ‘Why me, God? Why am I the only one who could find this bargain?’
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It’s not greed that drives the world, but envy.
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If you want to understand science, you have to understand math. In business, if you’re enumerate, you’re going to be a klutz. The good thing about business is that you don’t have to know any higher math.
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Never, ever, think about something else when you should be thinking about the power of incentives.
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We don’t like trading agony for money
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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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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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Acknowledging what you don’t know is the dawning of wisdom.
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There is bound to be a regression toward the mean.
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Investing is where you find a few great companies and then sit on your ass.
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To 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.
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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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Our job is to find a few intelligent things to do, not to keep up with every damn thing in the world.
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Intelligent people make decisions based on opportunity costs.
CHARLIE MUNGER