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.
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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A lot of success in life and business comes from knowing what you want to avoid: early death, a bad marriage, etc.
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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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It’s been my experience in life if you just keep thinking and reading, you don’t have to work.
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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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Opportunity comes to the prepared mind.
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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 safest way to get what you want is to deserve what you want.
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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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In my whole life, I have known no wise people who didn’t read all the time – none … ZERO.
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Go to bed smarter than when you woke up.
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If you get into the mental habit of relating what you’re reading to the basic structure of the underlying ideas being demonstrated, you gradually accumulate some wisdom.
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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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It’s not greed that drives the world, but envy.
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I’m right, and you’re smart, and sooner or later you’ll see I’m right.
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If we’ve been a little more successful than other people, is because we always realised that the school of life was always open, and if you were not learning more you are falling behind.
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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 best thing a human being can do is to help another human being know more.
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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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People always underestimate the ability of earth to increase its carrying capacity.
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The average result has to be the average result. By definition, everybody can’t beat the market. As I always say, the iron rule of life is that only 20% of the people can be in the top fifth. That’s just the way it is.
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Step by step you get ahead, but rarely in fast spurts.
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There’s no way that you can live an adequate life without many mistakes. In fact, one trick in life is to get so you can handle mistakes. Failure to handle psychological denial is a common way for people to go broke.
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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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Intelligent people make decisions based on opportunity costs.
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Great investing requires a lot of delayed gratification.
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Knowing what you don’t know is more useful than being brilliant.
CHARLIE MUNGER