The iron rule of nature is: you get what you reward for. If you want ants to come, you put sugar on the floor.
CHARLIE MUNGERIn my whole life, I have known no wise people who didn’t read all the time – none … ZERO.
More Charlie Munger Quotes
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You must force yourself to consider opposing arguments. Especially when they challenge your best loved ideas.
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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.
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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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It’s stupid the way people extrapolate the past — and not slightly stupid, but massively stupid.
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The way to win is to work, work, work, work and hope to have a few insights And you’re probably not going to be smart enough to find thousands in a lifetime. And when you get a few, you really load up. It’s just that simple.
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I like people admitting they were complete stupid horses’ asses. I know I’ll perform better if I rub my nose in my mistakes. This is a wonderful trick to learn.
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The safest way to get what you want is to deserve what you want.
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We try more to profit from always remembering the obvious than from grasping the esoteric.
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Go to bed smarter than when you woke up.
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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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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.
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You’re not going to get very far in life based on what you already know. You’re going to advance in life by what you’re going to learn after you leave here.
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The best thing a human being can do is to help another human being know more.
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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.
CHARLIE MUNGER