People always underestimate the ability of earth to increase its carrying capacity.
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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Someone will always be getting richer faster than you. This is not a tragedy.
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Hard work, honesty, if you keep at it, will get you almost anything.
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The big money is not in the buying and selling, but in the waiting.
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If you don’t allow for self-serving bias in the conduct of others, you are, again, a fool.
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Whenever you think something or some person is ruining your life, it’s you. A victimization mentality is so debilitating.
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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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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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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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All I want to know is where I’m going to die, so I’ll never go there.
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To the man with only a hammer, every problem looks like a nail.
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The game of life is the game of everlasting learning. At least it is if you want to win.
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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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Never, ever, think about something else when you should be thinking about the power of incentives.
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It’s waiting that helps you as an investor, and a lot of people just can’t stand to wait. If you didn’t get the deferred-gratification gene, you’ve got to work very hard to overcome that.
CHARLIE MUNGER