Any year that you don’t destroy one of your best-loved ideas is probably a wasted year.
CHARLIE MUNGERThere’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.
More Charlie Munger Quotes
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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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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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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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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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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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Opportunity comes to the prepared mind.
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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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Someone will always be getting richer faster than you. This is not a tragedy.
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There is bound to be a regression toward the mean.
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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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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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I believe in the discipline of mastering the best that other people have ever figured out. I don’t believe in just sitting down and trying to dream it all up yourself. Nobody’s that smart.
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Your life must focus on the maximization of objectivity.
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People always underestimate the ability of earth to increase its carrying capacity.
CHARLIE MUNGER