[Charlie Munger, 1924 - Eternity]
“All I want to know where I’m going die so I’ll never go there”
“The big money is not in buying and selling, but in the waiting”
”If all you succeed in doing in life is getting rich by buying little pieces of paper, it’s a failed life. Life is more than being shrewd in wealth accumulation.“
”Remember that reputation and integrity are your most valuable assets – and can be lost in a heartbeat.“
”A lot of success in life and business comes from knowing what you want to avoid: early death, a bad marriage etc.“
”Envy is a really stupid sin because it’s the only one you could never possibly have any fun at. There’s a lot of pain and no fun. Why would you want to get on that trolley?“
”Confucius said that real knowledge is knowing the extent of one’s ignorance. Aristotle and Socrates said the same thing. Is it a skill that can be taught or learned? It probably can, if you have enough of a stake riding on the outcome. Some people are extraordinarily good at knowing the limits of their knowledge, because they have to be. Think of somebody who’s been a professional tightrope walker for 20 years – and has survived. He couldn’t survive as a tightrope walker for 20 years unless he knows exactly what he knows and what he doesn’t know. He’s worked so hard at it, because he knows if he gets it wrong he won’t survive. The survivors know.“
”Knowing what you don’t know is more useful than being brilliant.“
“Lee Kuan Yew had the best record as a nation-builder. I have a bust of Lee Kuan Yew in my house. I admire him that much”
Thank you and farewell to one of the greatest thinker and investor in our era, Charlie Munger.
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