People always underestimate the ability of earth to increase its carrying capacity.
CHARLIE MUNGERGo to bed smarter than when you woke up.
More Charlie Munger Quotes
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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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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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If you want to understand science, you have to understand math. In business, if you’re enumerate, you’re going to be a klutz. The good thing about business is that you don’t have to know any higher math.
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Someone will always be getting richer faster than you. This is not a tragedy.
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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.
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The big money is not in the buying and selling, but in the waiting.
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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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The best thing a human being can do is to help another human being know more.
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Go to bed smarter than when you woke up.
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Great investing requires a lot of delayed gratification.
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Hard work, honesty, if you keep at it, will get you almost anything.
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It’s a good habit to trumpet your failures and be quiet about your successes.
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Never, ever, think about something else when you should be thinking about the power of incentives.
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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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I think that, every time you saw the word EBITDA, you should substitute the word “bullshit” earnings.
CHARLIE MUNGER