In my whole life, I have known no wise people who didn’t read all the time – none … ZERO.
CHARLIE MUNGERThe iron rule of nature is: you get what you reward for. If you want ants to come, you put sugar on the floor.
More Charlie Munger Quotes
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I believe in the discipline of mastering the best that other people have ever figured out. I don’t believe in just sitting down and trying to dream it all up yourself. Nobody’s that smart.
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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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We have found in a long life that one competitor is frequently enough to ruin a business.
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A lot of our respected financial institutions are just casinos in drag.
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Investing is where you find a few great companies and then sit on your ass.
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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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There are worse situations than drowning in cash and sitting, sitting, sitting. I remember when I wasn’t awash in cash — and I don’t want to go back.
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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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Whenever you think something or some person is ruining your life, it’s you. A victimization mentality is so debilitating.
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Any year that you don’t destroy one of your best-loved ideas is probably a wasted year.
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Go to bed smarter than when you woke up.
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We try more to profit from always remembering the obvious than from grasping the esoteric.
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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 think that, every time you saw the word EBITDA, you should substitute the word “bullshit” earnings.
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It’s not greed that drives the world, but envy.
CHARLIE MUNGER