Hard work, honesty, if you keep at it, will get you almost anything.
CHARLIE MUNGERWe try more to profit from always remembering the obvious than from grasping the esoteric.
More Charlie Munger Quotes
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A lot of our respected financial institutions are just casinos in drag.
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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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Never, ever, think about something else when you should be thinking about the power of incentives.
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It’s not greed that drives the world, but envy.
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Three rules for a career: 1) Don’t sell anything you wouldn’t buy yourself; 2) Don’t work for anyone you don’t respect and admire; and 3) Work only with people you enjoy.
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If you don’t allow for self-serving bias in the conduct of others, you are, again, a fool.
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Why should it be easy to do something that, if done well, two or three times, will make your family rich for life?
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I think that, every time you saw the word EBITDA, you should substitute the word “bullshit” earnings.
CHARLIE MUNGER -
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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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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It’s waiting that helps you as an investor, and a lot of people just can’t stand to wait. If you didn’t get the deferred-gratification gene, you’ve got to work very hard to overcome that.
CHARLIE MUNGER -
The game of life is the game of everlasting learning. At least it is if you want to win.
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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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The way to win is to work, work, work, work and hope to have a few insights And you’re probably not going to be smart enough to find thousands in a lifetime. And when you get a few, you really load up. It’s just that simple.
CHARLIE MUNGER