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Acknowledging what you don’t know is the dawning of wisdom.

Charlie Munger

You’re not going to get very far in life based on what you already know. You’re going to advance in life by what you’re going to learn after you leave here.
CHARLIE MUNGER

Learning Leaving Life Yourself
Someone will always be getting richer faster than you. This is not a tragedy.
CHARLIE MUNGER

Fast Rich Tragedy Yourself
It’s waiting that helps you as an investor, and a lot of people just can’t stand to wait. If you didn’t get the deferred-gratification gene, you’ve got to work very hard to overcome that.
CHARLIE MUNGER

Hard Work Investment People Wait Yourself
The game of life is the game of everlasting learning. At least it is if you want to win.
CHARLIE MUNGER

Game Last Learning Life Win Yourself
I like people admitting they were complete stupid horses’ asses. I know I’ll perform better if I rub my nose in my mistakes. This is a wonderful trick to learn.
CHARLIE MUNGER

Learning Mistake People Stupidity Trick Wonderful
I never allow myself to have an opinion on anything that I don’t know the other side’s argument better than they do.
CHARLIE MUNGER

Argument Myself Opinion Side
If you don’t keep learning, other people will pass you by. Temperament alone won’t do it – you need a lot of curiosity for a long, long time.
CHARLIE MUNGER

Alone Curiosity Learning Need Pass People Time
Great investing requires a lot of delayed gratification.
CHARLIE MUNGER

Delay Gratitude Greatness Investment
If 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 MUNGER

Fall Learning Life Open People School Success Yourself
Never, ever, think about something else when you should be thinking about the power of incentives.
CHARLIE MUNGER

Power Thinking Yourself
I try to get rid of people who always confidently answer questions about which they don’t have any real knowledge.
CHARLIE MUNGER

Confidence Myself People Question Reality Try
Step by step you get ahead, but rarely in fast spurts.
CHARLIE MUNGER

Fast Rare Yourself
Hard work, honesty, if you keep at it, will get you almost anything.
CHARLIE MUNGER

Hard Work Honesty Yourself
A lot of success in life and business comes from knowing what you want to avoid: early death, a bad marriage, etc.
CHARLIE MUNGER

Avoid Bad Business Death Early Marriage Success
This is a good life lesson: getting the right people into your system is the most important thing you can do.
CHARLIE MUNGER

Goodness Important Lesson Life People Right System Yourself
I’m right, and you’re smart, and sooner or later you’ll see I’m right.
CHARLIE MUNGER

Myself Right Smart Yourself

Acknowledging what you don’t know is the dawning of wisdom.

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Acknowledging what you don’t know is the dawning of wisdom.

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