It’s not greed that drives the world, but envy.
CHARLIE MUNGERTo the man with only a hammer, every problem looks like a nail.
More Charlie Munger Quotes
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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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I think that, every time you saw the word EBITDA, you should substitute the word “bullshit” earnings.
CHARLIE MUNGER -
If the value of a company doesn’t just scream out at you, it’s too close.
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Spend less than you make; always be saving something. Put it into a tax-deferred account. Over time, it will begin to amount to something. This is such a no-brainer.
CHARLIE MUNGER -
Acknowledging what you don’t know is the dawning of wisdom.
CHARLIE MUNGER -
A great business at a fair price is superior to a fair business at a great price.
CHARLIE MUNGER -
Common 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 MUNGER -
The game of life is the game of everlasting learning. At least it is if you want to win.
CHARLIE MUNGER -
You’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 MUNGER -
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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If we’ve been a little more successful than other people, is because we always realised that the school of life was always open, and if you were not learning more you are falling behind.
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There is bound to be a regression toward the mean.
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The investment game always involves considering both quality and price, and the trick is to get more quality than you pay for in price. It’s just that simple.
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The 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 MUNGER -
Why should it be easy to do something that, if done well, two or three times, will make your family rich for life?
CHARLIE MUNGER