Most people are too fretful, they worry to much. Success means being very patient, but aggressive when it’s time.
CHARLIE MUNGERPeople always underestimate the ability of earth to increase its carrying capacity.
More Charlie Munger Quotes
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Investing is where you find a few great companies and then sit on your ass.
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A great business at a fair price is superior to a fair business at a great price.
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Go to bed smarter than when you woke up.
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A lot of our respected financial institutions are just casinos in drag.
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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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Acknowledging what you don’t know is the dawning of wisdom.
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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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Knowing what you don’t know is more useful than being brilliant.
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Great investing requires a lot of delayed gratification.
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The best thing a human being can do is to help another human being know more.
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All I want to know is where I’m going to die, so I’ll never go there.
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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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Move only when you have an advantage. It’s very basic. You have to understand the odds and have the discipline to bet only when the odds are in your favor.
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There is bound to be a regression toward the mean.
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If you can buy the best companies, over time the pricing takes care of itself.
CHARLIE MUNGER