I don’t spend much time regretting the past, once I’ve taken my lesson from it. I don’t dwell on it.
CHARLIE MUNGERI don’t spend much time regretting the past, once I’ve taken my lesson from it. I don’t dwell on it.
CHARLIE MUNGERSomeone will always be getting richer faster than you. This is not a tragedy.
CHARLIE MUNGERIt 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 MUNGERWe try more to profit from always remembering the obvious than from grasping the esoteric.
CHARLIE MUNGERThere 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 MUNGERIf 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 MUNGERAll I want to know is where I’m going to die, so I’ll never go there.
CHARLIE MUNGERYou don’t have to have perfect wisdom to get very rich – just a bit better than average over a long period of time.
CHARLIE MUNGERThe 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.
CHARLIE MUNGERWe have found in a long life that one competitor is frequently enough to ruin a business.
CHARLIE MUNGERTo 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 MUNGERI did not succeed in life by intelligence. I succeeded because I have a long attention span.
CHARLIE MUNGERKnowing what you don’t know is more useful than being brilliant.
CHARLIE MUNGERThere’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 MUNGERThe more hard lessons you can learn vicariously rather than through your own hard experience, the better.
CHARLIE MUNGERAcknowledging what you don’t know is the dawning of wisdom.
CHARLIE MUNGER