The best thing a human being can do is to help another human being know more.
CHARLIE MUNGERCommon stock investors can make money by predicting the outcomes of practice evolution. You can’t derive this by fundamental analysis – you must think biologically.
More Charlie Munger Quotes
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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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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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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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I’m not entitled to have an opinion unless I can state the arguments against my position better than the people who are in opposition. I think that I am qualified to speak only when I’ve reached that state.
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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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The big money is not in the buying and selling, but in the waiting.
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Someone will always be getting richer faster than you. This is not a tragedy.
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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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You’re looking for a mispriced gamble. That’s what investing is. And you have to know enough to know whether the gamble is mispriced. That’s value investing.
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Acknowledging what you don’t know is the dawning of wisdom.
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Show me the incentive and I will show you the outcome.
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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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In my whole life, I have known no wise people who didn’t read all the time – none … ZERO.
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Investing is where you find a few great companies and then sit on your ass.
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It’s not greed that drives the world, but envy.
CHARLIE MUNGER