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. But if you buy a few great companies, then you can sit on your ass. That's a good thing.
I don't have too much interest in teaching other people how to get rich. And that isn't because I fear the competition or anything like that - Warren… - Charlie Munger
I don't have too much interest in teaching other people how to get rich. And that isn't because I fear the competition or anything like that - Warren…
- Charlie Munger
Knowing what you don't know is more useful than being brilliant. - Charlie Munger
Knowing what you don't know is more useful than being brilliant.
We don't have any miraculous way of avoiding taxes at Wesco and Berkshire. - Charlie Munger
We don't have any miraculous way of avoiding taxes at Wesco and Berkshire.
For years I have read the morning paper and harrumphed. There's a lot to harrumph about now. - Charlie Munger
For years I have read the morning paper and harrumphed. There's a lot to harrumph about now.
Opportunity comes to the prepared mind. - Charlie Munger
Opportunity comes to the prepared mind.
You don't have to be brilliant, only a little bit wiser than the other guys, on average, for a long, long, time. - Charlie Munger
You don't have to be brilliant, only a little bit wiser than the other guys, on average, for a long, long, time.
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 intell… - Charlie Munger
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 intell…
The big money is not in the buying and selling ... but in the waiting. - Charlie Munger
The big money is not in the buying and selling ... but in the waiting.
Those who will not face improvements because they are changes, will face changes that are not improvements. - Charlie Munger
Those who will not face improvements because they are changes, will face changes that are not improvements.
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