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
The big money is not in the buying and selling, but in the waiting.
Spend each day trying to be a little wiser than you were when you woke up.
Invert, always invert.
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.
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Our time horizon is five years. We are not focused on the next quarter.
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The single greatest edge an investor can have is a long-term orientation.
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Have patience. Stocks don't go up immediately.
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Buy stocks, take sleeping pills, and stop looking at the papers. After many years you will see: you are rich.
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