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bobby_dreamer

Charlie Munger

notes, quest-for-wealth1 min read

# Top quotes of Charlie Munger

  1. Take a simple idea and take it seriously.
  2. People calculate too much and think too little
  3. The big money is not in the buying or the selling, but in the waiting.
  4. What are the secrets of success? – one word answer: "rational"

    rational : based on or in accordance with reason or logic.

  5. Knowing what you don’t know is more useful than being brilliant.
  6. If something is too hard, we move on to something els1. What could be simpler than that?”
  7. Remember that reputation and integrity are your most valuable assets — and can be lost in a heartbeat.
  8. Spend each day trying to be a little wise than you were when you wake up.
  9. I don't care whether the cat is white or black as long as it catches a mouse.
  10. There are whole lots of things, I don’t think about, and one of those things is companies that are losing 2-3 billion dollars a year and going bubbly. Its not my scene.
  11. I don't have to invest in everything that I'm interested in. I am looking for things where, i think i can predict whats gonna happen with a high degree of accuracy. I don't have that feeling, i have that ability with Uber.
  12. Spend less than you make; always be saving something. Put it into a tax-deferred account. Over time, it will amount to something. This is such a no-brainer
  13. Its in the nature of stock market to go way down from time to time. Theres no system to avoid bad markets. You cant do it unless you try to time the market, which is a seriously dumb thing to do. Conservative investing with steady savings without expecting miracles is the way to go

# References

  • Wealth Education