It’s not greed that drives the world, but envy.
CHARLIE MUNGERIt’s not greed that drives the world, but envy.
CHARLIE MUNGERThe best thing a human being can do is to help another human being know more.
CHARLIE MUNGERI’m right, and you’re smart, and sooner or later you’ll see I’m right.
CHARLIE MUNGERIn my whole life, I have known no wise people who didn’t read all the time – none … ZERO.
CHARLIE MUNGERMost people are too fretful, they worry to much. Success means being very patient, but aggressive when it’s time.
CHARLIE MUNGERI try to get rid of people who always confidently answer questions about which they don’t have any real knowledge.
CHARLIE MUNGERIt’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 MUNGERAny year that you don’t destroy one of your best-loved ideas is probably a wasted year.
CHARLIE MUNGERGo to bed smarter than when you woke up.
CHARLIE MUNGERNever, ever, think about something else when you should be thinking about the power of incentives.
CHARLIE MUNGERCommon stock investors can make money by predicting the outcomes of practice evolution. You can’t derive this by fundamental analysis – you must think biologically.
CHARLIE MUNGERJust avoid things like racing trains to the crossing, doing cocaine, etc. Develop good mental habits.
CHARLIE MUNGERTo the man with only a hammer, every problem looks like a nail.
CHARLIE MUNGERShow me the incentive and I will show you the outcome.
CHARLIE MUNGERThe 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.
CHARLIE MUNGERThe 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