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 MUNGERWhen you locate a bargain, you must ask, ‘Why me, God? Why am I the only one who could find this bargain?’
More Charlie Munger Quotes
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Spend less than you make; always be saving something. Put it into a tax-deferred account. Over time, it will begin to amount to something. This is such a no-brainer.
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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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I don’t spend much time regretting the past, once I’ve taken my lesson from it. I don’t dwell on it.
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The safest way to get what you want is to deserve what you want.
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It’s been my experience in life if you just keep thinking and reading, you don’t have to work.
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Move only when you have an advantage. It’s very basic. You have to understand the odds and have the discipline to bet only when the odds are in your favor.
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Opportunity comes to the prepared mind.
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If 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.
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We have found in a long life that one competitor is frequently enough to ruin a business.
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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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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 did not succeed in life by intelligence. I succeeded because I have a long attention span.
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Three rules for a career: 1) Don’t sell anything you wouldn’t buy yourself; 2) Don’t work for anyone you don’t respect and admire; and 3) Work only with people you enjoy.
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It is remarkable how much long-term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very intelligent.
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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.
CHARLIE MUNGER