RIP Charlie Munger

quote:

---

The world is not driven by greed. It’s driven by envy

---

quote:

---

If you want to succeed in investments, start early and try hard and keep doing it. All success comes that way, by and large.

---

quote:

---

The single most important thing, if you want to avoid a lot of stupid errors, is knowing where you’re competent and where you aren’t. Knowing the edge of your own competency. And that’s very hard to do because the human mind naturally tries to make you think you’re way smarter than you are

---

quote:

---

Crooks, crazies, egomaniacs, people full of resentment, people full of self-pity, people who feel like victims, there's a lot of things that aren't going to work for you. Figure out what they are and then avoid them like the plague

---

quote:

---

A friend of mine says a good day when you're old is when you wake up in the morning and nothing new hurts

---

quote:

---

Perhaps the most important rule in management is "Get the incentives right

---

quote:

---

The whole trick of the game is to have a few times when you know that something is better than average and invest only where you have that extra knowledge

---

quote:

---

Modern life creates successful bureaucracy and successful bureaucracy breeds failure and stupidity

---

quote:

---

On cryptocurrency: when somebody else is trading turds, and you don't want to be left ou

---

quote:

---

When asked (at age 96) how many children he had: "Eight. So far."

---

quote:

---

“The big money is not in the buying and selling but in the waiting”

---