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 intelligent.
Investors
Charlie Munger
Born in 1924 in Omaha, Munger was Berkshire Hathaway's vice chairman and Buffett's partner for over half a century. His mental-models framework and inversion thinking expanded value investing beyond financial analysis.
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Charlie Munger's Other Quotes
Invert, always invert.
Spend each day trying to be a little wiser than you were when you woke up.
To a man with a hammer, everything looks like a nail.
I constantly see people rise in life who are not the smartest, sometimes not even the most diligent, but they are learning machines.
The big money is not in the buying and selling, but in the waiting.
Related Quotes
Mutual understanding is inherent in human language as its telos.
-- Jürgen Habermas
I want to own companies where, if the stock market shut down for ten years, I'd be happy holding them.
-- Bruce Berkowitz
The big money is not in the buying and selling, but in the waiting.
-- Charlie Munger
Our favorite holding period is forever.
-- Warren Buffett
The single greatest edge an investor can have is a long-term orientation.
-- Seth Klarman
Have patience. Stocks don't go up immediately.
-- Walter Schloss