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To the man with only a hammer, every problem looks like a nail.

Charlie Munger

Whenever you think something or some person is ruining your life, it’s you. A victimization mentality is so debilitating.
CHARLIE MUNGER

Life Mental Person Ruin Thinking Yourself
There 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 MUNGER

Accountability Information Life Master Planning Reality
A foreign correspondent, after talking to me for a while, once said: “You don’t seem smart enough to be so good at what you’re doing. Do you have an explanation?”
CHARLIE MUNGER

Enough Explanation Goodness Smart Talk Yourself
Intelligent people make decisions based on opportunity costs.
CHARLIE MUNGER

Cost Decision Intelligence Opportunity People
It’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 MUNGER

Hard Work Investment People Wait Yourself
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.
CHARLIE MUNGER

Fall Learning Life Open People School Success Yourself
If you don’t keep learning, other people will pass you by. Temperament alone won’t do it – you need a lot of curiosity for a long, long time.
CHARLIE MUNGER

Alone Curiosity Learning Need Pass People Time
The 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

Attraction Nature Reward Rule Yourself
Your life must focus on the maximization of objectivity.
CHARLIE MUNGER

Focus Life Object Yourself
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

Easy Family Life Rich Time Yourself
There is bound to be a regression toward the mean.
CHARLIE MUNGER

Bound Method Regression
The game of life is the game of everlasting learning. At least it is if you want to win.
CHARLIE MUNGER

Game Last Learning Life Win Yourself
It’s stupid the way people extrapolate the past — and not slightly stupid, but massively stupid.
CHARLIE MUNGER

People Past Stupidity Way
I never allow myself to have an opinion on anything that I don’t know the other side’s argument better than they do.
CHARLIE MUNGER

Argument Myself Opinion Side
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.
CHARLIE MUNGER

Average Cash Character Money Myself Opportunity
To me, it’s obvious that the winner has to bet very selectively. It’s been obvious to me since very early in life. I don’t know why it’s not obvious to very many other people.
CHARLIE MUNGER

Early Investment Life Myself People Win

To the man with only a hammer, every problem looks like a nail.

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To the man with only a hammer, every problem looks like a nail.

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