To me, it’s obvious that the winner has to bet very selectively. It’s been obvious to me since very early in life. I don’t know why it’s not obvious to very many other people.
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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It’s been my experience in life if you just keep thinking and reading, you don’t have to work.
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When you locate a bargain, you must ask, ‘Why me, God? Why am I the only one who could find this bargain?’
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Hard work, honesty, if you keep at it, will get you almost anything.
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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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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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A lot of our respected financial institutions are just casinos in drag.
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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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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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We don’t like trading agony for money
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The safest way to get what you want is to deserve what you want.
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Opportunity comes to the prepared mind.
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The best thing a human being can do is to help another human being know more.
CHARLIE MUNGER -
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.
CHARLIE MUNGER -
If you don’t allow for self-serving bias in the conduct of others, you are, again, a fool.
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Go to bed smarter than when you woke up.
CHARLIE MUNGER






