How could economics not be behavioral? If it isn't behavioral, what the hell is it?
Charlie MungerRead
Spend each day trying to be a little wiser than you were when you woke up. Day by day, and at the end of the day-if you live long enough-like most people, you will get out of life what you deserve.
Interpretation
What this quote means
Strive for daily personal growth and wisdom to gain the rewards you deserve in life.
This quote emphasizes the importance of continuous self-improvement and learning. Charlie Munger suggests that by dedicating each day to becoming a bit wiser, individuals can shape their lives positively and ultimately reap the benefits of their efforts in the long run.
Themes
WisdomGrowthLearningSelf-ImprovementLife
In practice
Example use cases
During a motivational speech at a school, to encourage students to prioritize learning.
More from Charlie Munger
All quotes →The world of derivatives is full of holes that very few people are really aware of. It's like hydrogen and oxygen sitting on the corner waiting for a little flame.
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I believe in the discipline of mastering the best that other people have ever figured out. I don't believe in just sitting down and trying to dream it all up yourself. Nobody's that smart.
Charlie MungerRead
Economics is in many respects the queen of the soft sciences. It's expected to be better than the rest. It's my view that economics is better at the multi-disciplinary stuff than the rest of the soft science. And it's also my view that it's still lousy.
Charlie MungerRead
Look at this generation, with all of its electronic devices and multitasking. I will confidently predict less success than Warren, who just focused on reading.
Charlie MungerRead
Economics profession, they've been - they've been confident in various formulas, but economics is not physics. The same formula that works in one decade doesn't work in the next. Economics is a difficult subject.
Charlie MungerRead
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