I did not succeed in life by intelligence. I succeeded because I have a long attention span.
CHARLIE MUNGERI did not succeed in life by intelligence. I succeeded because I have a long attention span.
CHARLIE MUNGERIf the value of a company doesn’t just scream out at you, it’s too close.
CHARLIE MUNGERStep by step you get ahead, but rarely in fast spurts.
CHARLIE MUNGERTo me, it’s obvious that the winner has to bet very selectively. It’s been obvious to me since very early in life. I don’t know why it’s not obvious to very many other people.
CHARLIE MUNGERYou’re looking for a mispriced gamble. That’s what investing is. And you have to know enough to know whether the gamble is mispriced. That’s value investing.
CHARLIE MUNGERKnowing what you don’t know is more useful than being brilliant.
CHARLIE MUNGERWhy should it be easy to do something that, if done well, two or three times, will make your family rich for life?
CHARLIE MUNGERIf 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 MUNGERIt’s been my experience in life if you just keep thinking and reading, you don’t have to work.
CHARLIE MUNGERIt’s stupid the way people extrapolate the past — and not slightly stupid, but massively stupid.
CHARLIE MUNGEROur job is to find a few intelligent things to do, not to keep up with every damn thing in the world.
CHARLIE MUNGERInvesting is where you find a few great companies and then sit on your ass.
CHARLIE MUNGERIt 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.
CHARLIE MUNGERIntelligent people make decisions based on opportunity costs.
CHARLIE MUNGERShow me the incentive and I will show you the outcome.
CHARLIE MUNGERIt’s a good habit to trumpet your failures and be quiet about your successes.
CHARLIE MUNGER