All I want to know is where I’m going to die, so I’ll never go there.
CHARLIE MUNGERThe best thing a human being can do is to help another human being know more.
More Charlie Munger Quotes
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Your life must focus on the maximization of objectivity.
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The average result has to be the average result. By definition, everybody can’t beat the market. As I always say, the iron rule of life is that only 20% of the people can be in the top fifth. That’s just the way it is.
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Go to bed smarter than when you woke up.
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There are worse situations than drowning in cash and sitting, sitting, sitting. I remember when I wasn’t awash in cash — and I don’t want to go back.
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Knowing what you don’t know is more useful than being brilliant.
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Whenever you think something or some person is ruining your life, it’s you. A victimization mentality is so debilitating.
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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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To the man with only a hammer, every problem looks like a nail.
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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.
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In my whole life, I have known no wise people who didn’t read all the time – none … ZERO.
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The more hard lessons you can learn vicariously rather than through your own hard experience, the better.
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Opportunity comes to the prepared mind.
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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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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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A great business at a fair price is superior to a fair business at a great price.
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Just avoid things like racing trains to the crossing, doing cocaine, etc. Develop good mental habits.
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There is bound to be a regression toward the mean.
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Bull markets go to people’s heads. If you’re a duck on a pond, and it’s rising due to a downpour, you start going up in the world. But you think it’s you, not the pond.
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Never, ever, think about something else when you should be thinking about the power of incentives.
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Most people are too fretful, they worry to much. Success means being very patient, but aggressive when it’s time.
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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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The best thing a human being can do is to help another human being know more.
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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.
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I try to get rid of people who always confidently answer questions about which they don’t have any real knowledge.
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A lot of our respected financial institutions are just casinos in drag.
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Great investing requires a lot of delayed gratification.
CHARLIE MUNGER