Investing is where you find a few great companies and then sit on your ass.
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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The iron rule of nature is: you get what you reward for. If you want ants to come, you put sugar on the floor.
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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 wise ones bet heavily when the world offers them that opportunity. They bet big when they have the odds. And the rest of the time, they don’t. It’s just that simple.
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If the value of a company doesn’t just scream out at you, it’s too close.
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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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The safest way to get what you want is to deserve what you want.
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I never allow myself to have an opinion on anything that I don’t know the other side’s argument better than they do.
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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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Someone will always be getting richer faster than you. This is not a tragedy.
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The best thing a human being can do is to help another human being know more.
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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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Bull markets go to people’s heads. If you’re a duck on a pond, and it’s rising due to a downpour, you start going up in the world. But you think it’s you, not the pond.
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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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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 foreign correspondent, after talking to me for a while, once said: “You don’t seem smart enough to be so good at what you’re doing. Do you have an explanation?”
CHARLIE MUNGER