The more hard lessons you can learn vicariously rather than through your own hard experience, the better.
CHARLIE MUNGERIf 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.
More Charlie Munger Quotes
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Acknowledging what you don’t know is the dawning of wisdom.
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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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It takes character to sit there with all that cash and do nothing. I didn’t get to where I am by going after mediocre opportunities.
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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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There has never been a master plan. Anyone who wanted to do it, we fired because it takes on a life of its own and doesn’t cover new reality. We want people taking into account new information.
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Investing is where you find a few great companies and then sit on your ass.
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Your life must focus on the maximization of objectivity.
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You must force yourself to consider opposing arguments. Especially when they challenge your best loved ideas.
CHARLIE MUNGER -
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.
CHARLIE MUNGER -
Show me the incentive and I will show you the outcome.
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The safest way to get what you want is to deserve what you want.
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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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Intelligent people make decisions based on opportunity costs.
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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.
CHARLIE MUNGER -
I’m right, and you’re smart, and sooner or later you’ll see I’m right.
CHARLIE MUNGER