Investing is where you find a few great companies and then sit on your ass.
CHARLIE MUNGERInvesting is where you find a few great companies and then sit on your ass.
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 MUNGERWhy should it be easy to do something that, if done well, two or three times, will make your family rich for life?
CHARLIE MUNGERIf the value of a company doesn’t just scream out at you, it’s too close.
CHARLIE MUNGERHow do you compete against a true fanatic? You can only try to build the best possible moat and continuously attempt to widen it.
CHARLIE MUNGERJust avoid things like racing trains to the crossing, doing cocaine, etc. Develop good mental habits.
CHARLIE MUNGERYou’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 MUNGERThere is bound to be a regression toward the mean.
CHARLIE MUNGERThe 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 MUNGERThe safest way to get what you want is to deserve what you want.
CHARLIE MUNGERAll I want to know is where I’m going to die, so I’ll never go there.
CHARLIE MUNGERIntelligent people make decisions based on opportunity costs.
CHARLIE MUNGERMost people are too fretful, they worry to much. Success means being very patient, but aggressive when it’s time.
CHARLIE MUNGERThere has never been a master plan. Anyone who wanted to do it, we fired because it takes on a life of its own and doesn’t cover new reality. We want people taking into account new information.
CHARLIE MUNGERWe don’t like trading agony for money
CHARLIE MUNGERWhenever you think something or some person is ruining your life, it’s you. A victimization mentality is so debilitating.
CHARLIE MUNGER