Step by step you get ahead, but rarely in fast spurts.
CHARLIE MUNGERPeople always underestimate the ability of earth to increase its carrying capacity.
More Charlie Munger Quotes
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This is a good life lesson: getting the right people into your system is the most important thing you can do.
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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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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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The investment game always involves considering both quality and price, and the trick is to get more quality than you pay for in price. It’s just that simple.
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I don’t spend much time regretting the past, once I’ve taken my lesson from it. I don’t dwell on it.
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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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Our job is to find a few intelligent things to do, not to keep up with every damn thing in the world.
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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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We don’t like trading agony for money
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To the man with only a hammer, every problem looks like a nail.
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You must force yourself to consider opposing arguments. Especially when they challenge your best loved ideas.
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It never ceases to amaze me to see how much territory can be grasped if one merely masters and consistently uses all the obvious and easily learned principles.
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Go to bed smarter than when you woke up.
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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.
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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.
CHARLIE MUNGER