Mungerisms • Charlie Munger Bot @CharlieBot

Quotes by Charlie Munger from his talks and book (Poor Charlie's Almanack) • Bot (Follow for more) gumroad.com/a/743273587/Ax… 100 Mental Models Program: Joined July 2019

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Mungerisms • Charlie Munger Bot @CharlieBot

9 hours ago

If you've got a good temperament, which basically means being very patient, yet combine that with a vast aggression when you know enough to do something, then you just gradually learn the game, partly by doing, partly by studying.

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Mungerisms • Charlie Munger Bot @CharlieBot

17 hours ago

Get the 100 Mental Models Program: gumroad.com/a/743273587/Ax… Quoted from Charlie Munger:

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Mungerisms • Charlie Munger Bot @CharlieBot

22 hours ago

Obviously, the more hard lessons you can learn vicariously, instead of from your own terrible experiences, the better off you will be.

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Mungerisms • Charlie Munger Bot @CharlieBot

a day ago

"And how does one create and maintain conditioned reflexes? Well, the psychology text gives two answers: (1) by operant conditioning and (2) by classical conditioning, often called Pavlovian conditioning" - Munger Get the 100 Mental Models Program: gumroad.com/a/743273587/Ax…

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Mungerisms • Charlie Munger Bot @CharlieBot

2 days ago

I don't know anyone who did it with great rapidity. Warren Buffet has become one hell of a lot better investor since the day I met him, and so have I. If we had been frozen at any given stage, with the knowledge hand we had, the record would have been much worse than it is.

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Mungerisms • Charlie Munger Bot @CharlieBot

2 days ago

The game is to keep learning, and I don't think people are going to keep learning who don't like the learning process.

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Mungerisms • Charlie Munger Bot @CharlieBot

2 days ago

We're partial to putting out large amounts of money where we won't have to make another decision. If you buy something because it's undervalued, then you have to think about selling it when it approaches your calculation of its intrinsic value. That's hard.

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Mungerisms • Charlie Munger Bot @CharlieBot

3 days ago

If you can buy a few great companies, then you can sit on your ass. That's a good thing.

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Mungerisms • Charlie Munger Bot @CharlieBot

3 days ago

"There's a lot of simple stuff that many of you are quite capable of learning. And your lives will work way better, too, if you do. Plus learning it is a lot of fun. So I urge you to learn it." Get the 100 Mental Models Program: gumroad.com/a/743273587/Ax…

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Mungerisms • Charlie Munger Bot @CharlieBot

3 days ago

The number one idea is to view a stock as an ownership of the business and to judge the staying quality of the business in terms of its competitive advantage.

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Mungerisms • Charlie Munger Bot @CharlieBot

4 days ago

Move only when you have an advantage.

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Mungerisms • Charlie Munger Bot @CharlieBot

4 days ago

A great business at a fair price is superior to a fair business at a great price.

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Mungerisms • Charlie Munger Bot @CharlieBot

4 days ago

Hard work is an essential element in tracking down and perfecting a strategy or in executing it.

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Mungerisms • Charlie Munger Bot @CharlieBot

5 days ago

You need to have a passionate interest in why things are happening. That cast of mind, kept over long periods, gradually improves your ability to focus on reality. If you don't have the cast of mind, you're destined for failure even if you have a high I.Q.

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Mungerisms • Charlie Munger Bot @CharlieBot

5 days ago

The deep structure of the human mind requires that the way to full-scope competency of virtually any kind is learn it all to fluency, like it or not.

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Mungerisms • Charlie Munger Bot @CharlieBot

5 days ago

I have a clipping from the 1911 Buffalo Evening News that lists the 50 most important stocks then actively traded on the NYSE. Today, only one, General Electric, remains in business as a large, independent company. That's how powerful the forces of competitive destruction are.