The safest way to get what you want is to deserve what you want.
CHARLIE MUNGERThe safest way to get what you want is to deserve what you want.
More Charlie Munger Quotes
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Investing is where you find a few great companies and then sit on your ass.
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The big money is not in the buying and selling, but in the waiting.
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How do you compete against a true fanatic? You can only try to build the best possible moat and continuously attempt to widen it.
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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.
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A great business at a fair price is superior to a fair business at a great price.
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Just avoid things like racing trains to the crossing, doing cocaine, etc. Develop good mental habits.
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I’m not entitled to have an opinion unless I can state the arguments against my position better than the people who are in opposition. I think that I am qualified to speak only when I’ve reached that state.
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People always underestimate the ability of earth to increase its carrying capacity.
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You don’t have to have perfect wisdom to get very rich – just a bit better than average over a long period of time.
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It never ceases to amaze me to see how much territory can be grasped if one merely masters and consistently uses all the obvious and easily learned principles.
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Intelligent people make decisions based on opportunity costs.
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Show me the incentive and I will show you the outcome.
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I try to get rid of people who always confidently answer questions about which they don’t have any real knowledge.
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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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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