Charlie Munger

It's remarkable how much long-term advantage people like us have gotten by trying to be consistently not stupid.

If you skillfully follow the multidisciplinary path, you will never wish to come back.

Patience and aggressive opportunism is what you need. It's an odd combination, but it's what works best.

Nothing has served me better in my long life than continuous learning.

Smart people make mistakes too. The difference is they learn from them.

The big money is not in the buying and the selling but in the waiting.

The safest way to get what you want is to deserve what you want.

Intense interest in any subject is indispensable if you’re really going to excel in it.

I did not succeed in life by intelligence. I succeeded because I have a long attention span.

If you keep learning all the time, you have a wonderful advantage.

Avoid intense ideology. It turns your brain to cabbage.

Like Warren, I had a considerable passion to get rich, not because I wanted Ferraris—I wanted the independence. I desperately wanted it.

Envy, resentment, revenge, and self-pity are disastrous modes of thought.

No wise pilot, no matter how great his talent and experience, fails to use a checklist.

The first rule of fishing is to fish where the fish are.

In my whole life, I have known no wise people who didn't read all the time, none, zero.

Recognize reality even when you don't like it—especially when you don't like it.

The point of getting rich is so you don’t have to work with people you don’t like or get along with people you don’t want to.

The first rule of a happy life is low expectations. That’s one you can easily arrange. And if you have unrealistic expectations, you’re going to be miserable all your life.

I can’t think of a single example in my whole life where ‘keeping it simple’ worked against us.

You only have to get rich once. You don’t have to climb this mountain four times. You just have to do it once.

The first rule of a happy life is low expectations.

If all you needed to do is to figure out what company is better than others, everyone would make a lot of money. But that is not the case. They keep raising the prices to the point when the odds change.

Never, ever, tell anyone about your problems. 90% of the people really don't care. The other 10% are glad you have them.

Reliability is essential for progress in life.

Always take the high road, it’s far less crowded.

I think the best road to human happiness is to expect less.

In my whole life, I have known no wise people (over a broad subject matter area) who didn’t read all the time – none, zero.

The iron rule of nature is: you get what you reward for. If you want ants to come, you put sugar on the floor.

Those who keep learning will keep rising in life.

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.

The best thing a human being can do is help another human being know more.

I never allow myself to have an opinion on anything unless I know the other side's argument better than they do.

If I can be optimistic at 99, almost dead, surely the rest of you can handle a little inflation.