Intelligent people make decisions based on opportunity costs.
CHARLIE MUNGERThe safest way to get what you want is to deserve what you want.
More Charlie Munger Quotes
-
-
We have found in a long life that one competitor is frequently enough to ruin a business.
CHARLIE MUNGER -
Acknowledging what you don’t know is the dawning of wisdom.
CHARLIE MUNGER -
It’s not greed that drives the world, but envy.
CHARLIE MUNGER -
Stock-picking is like gambling: those who win well, seldom bet, but when they do, they bet heavily.
CHARLIE MUNGER -
In my whole life, I have known no wise people who didn’t read all the time – none … ZERO.
CHARLIE MUNGER -
Great investing requires a lot of delayed gratification.
CHARLIE MUNGER -
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.
CHARLIE MUNGER -
Never, ever, think about something else when you should be thinking about the power of incentives.
CHARLIE MUNGER -
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 -
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 -
This is a good life lesson: getting the right people into your system is the most important thing you can do.
CHARLIE MUNGER -
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.
CHARLIE MUNGER -
Any year that you don’t destroy one of your best-loved ideas is probably a wasted year.
CHARLIE MUNGER -
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 -
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