To the man with only a hammer, every problem looks like a nail.
CHARLIE MUNGERInvesting is where you find a few great companies and then sit on your ass.
More Charlie Munger Quotes
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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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Opportunity comes to the prepared mind.
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Show me the incentive and I will show you the outcome.
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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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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.
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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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Any year that you don’t destroy one of your best-loved ideas is probably a wasted year.
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Most people are too fretful, they worry to much. Success means being very patient, but aggressive when it’s time.
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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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Our 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.
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If you can buy the best companies, over time the pricing takes care of itself.
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There is bound to be a regression toward the mean.
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This is a good life lesson: getting the right people into your system is the most important thing you can do.
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The best thing a human being can do is to help another human being know more.
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It’s stupid the way people extrapolate the past — and not slightly stupid, but massively stupid.
CHARLIE MUNGER