Voices
Charlie Munger
Vice chairman of Berkshire Hathaway and Warren Buffett's long-time partner, known for reasoning through a latticework of mental models.
Investor · Berkshire Hathaway10 lines
“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.”
“A lot of people with high IQs are terrible investors because they've got terrible temperaments.”
“No matter how wonderful a business is, it's not worth an infinite price.”
“A great business at a fair price is superior to a fair business at a great price.”
“Spend each day trying to be a little wiser than you were when you woke up.”
“There's no way you can live an adequate life without many mistakes.”
“The first rule of compounding: never interrupt it unnecessarily.”
“Waiting helps you as an investor, and a lot of people just can't stand to wait.”