Sunday, February 5, 2023

Checking in.............................

 ..........................with Charlie Munger:

The desire to get rich fast is pretty dangerous.

Knowing what you don't know is more useful that being brilliant.

Acknowledging what you don't know is the dawning of wisdom.

People are trying to be smart—all I am trying to do is not to be idiotic, but it's harder than most people think.

Life, in part, is like a poker game, wherein you have to learn to quit sometimes when holding a much-loved hand—you must learn to handle mistakes and new facts that change the odds.

My idea of shooting fish in a barrel is draining the barrel first.

Mimicking the herd invites regression to the mean.

I succeeded because I have a long attention span.

It's waiting that helps you as an investor, and a lot of people just can't stand to wait.

I think that one should recognize reality even when one doesn't like it; indeed, especially when one doesn't like it.

-all quotes lifted from The Tao of Charlie Munger


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