You don’t have to have perfect wisdom to get very rich – just a bit better than average over a long period of time.
CHARLIE MUNGERWhy should it be easy to do something that, if done well, two or three times, will make your family rich for life?
More Charlie Munger Quotes
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The wise ones bet heavily when the world offers them that opportunity. They bet big when they have the odds. And the rest of the time, they don’t. It’s just that simple.
CHARLIE MUNGER -
Show me the incentive and I will show you the outcome.
CHARLIE MUNGER -
Someone will always be getting richer faster than you. This is not a tragedy.
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Stock-picking is like gambling: those who win well, seldom bet, but when they do, they bet heavily.
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It takes character to sit there with all that cash and do nothing. I didn’t get to where I am by going after mediocre opportunities.
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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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It’s a good habit to trumpet your failures and be quiet about your successes.
CHARLIE MUNGER -
I did not succeed in life by intelligence. I succeeded because I have a long attention span.
CHARLIE MUNGER -
If you can buy the best companies, over time the pricing takes care of itself.
CHARLIE MUNGER -
Go to bed smarter than when you woke up.
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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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It’s stupid the way people extrapolate the past — and not slightly stupid, but massively stupid.
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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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Whenever you think something or some person is ruining your life, it’s you. A victimization mentality is so debilitating.
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All I want to know is where I’m going to die, so I’ll never go there.
CHARLIE MUNGER