The safest way to get what you want is to deserve what you want.
CHARLIE MUNGEROur 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.
More Charlie Munger Quotes
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In my whole life, I have known no wise people who didn’t read all the time – none … ZERO.
CHARLIE MUNGER -
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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I’m right, and you’re smart, and sooner or later you’ll see I’m right.
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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.
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If you can buy the best companies, over time the pricing takes care of itself.
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There’s no way that you can live an adequate life without many mistakes. In fact, one trick in life is to get so you can handle mistakes. Failure to handle psychological denial is a common way for people to go broke.
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Never, ever, think about something else when you should be thinking about the power of incentives.
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All I want to know is where I’m going to die, so I’ll never go there.
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Why should it be easy to do something that, if done well, two or three times, will make your family rich for life?
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It’s not greed that drives the world, but envy.
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The best thing a human being can do is to help another human being know more.
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Investing is where you find a few great companies and then sit on your ass.
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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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A lot of our respected financial institutions are just casinos in drag.
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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.
CHARLIE MUNGER