black
grey
blue
red
brown
white

I’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 Munger

If you can buy the best companies, over time the pricing takes care of itself.
CHARLIE MUNGER

Best Care Company Price Time Yourself
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
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
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
Just avoid things like racing trains to the crossing, doing cocaine, etc. Develop good mental habits.
CHARLIE MUNGER

Avoid Development Habit Mental Race Training
Step by step you get ahead, but rarely in fast spurts.
CHARLIE MUNGER

Fast Rare Yourself
A great business at a fair price is superior to a fair business at a great price.
CHARLIE MUNGER

Business Choice Greatness Price
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
Stock-picking is like gambling: those who win well, seldom bet, but when they do, they bet heavily.
CHARLIE MUNGER

Gamble heavy Winning
Whenever you think something or some person is ruining your life, it’s you. A victimization mentality is so debilitating.
CHARLIE MUNGER

Life Mental Person Ruin Thinking Yourself
You must force yourself to consider opposing arguments. Especially when they challenge your best loved ideas.
CHARLIE MUNGER

Argument Best Challenge Force Ideas Love
The iron rule of nature is: you get what you reward for. If you want ants to come, you put sugar on the floor.
CHARLIE MUNGER

Attraction Nature Reward Rule Yourself
Acknowledging what you don’t know is the dawning of wisdom.
CHARLIE MUNGER

Acknowledgement Beginning Wisdom Yourself
I’m right, and you’re smart, and sooner or later you’ll see I’m right.
CHARLIE MUNGER

Myself Right Smart Yourself
It is remarkable how much long-term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very intelligent.
CHARLIE MUNGER

Advantage Consistent Intelligence People Remark Stupidity Try
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.
CHARLIE MUNGER

Amazing Consistency Easy Learning Principle See

I’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.

Related Topics

Popular Authors

I’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.

Related Topics

Popular Authors

More Charlie Munger Quotes