Quotes from Charlie Munger

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.

Those who keep learning, will keep rising in life

Whoever makes you smarter a little earlier in life makes you better

Why should it be easy to do something that, if done well, two or three times, will make your family rich for life?

We have found in a long life that one competitor is frequently enough to ruin a business.

Assume life will be really tough, and then ask if you can handle it. If the answer is yes, you've won.

This is a good life lesson: getting the right people into your system is the most important thing you can do.

The best armor of old age is a well-spent life preceding it.

Being short and seeing a promoter take the stock up is very irritating. It's not worth it to have that much irritation in your life.

If all you succeed in doing in life is getting rich by buying little pieces of paper, it's a failed life. Life is more than being shrewd in wealth accumulation.

If you rise in life, you have to behave in a certain way. You can go to a strip club if you're a beer-swilling sand shoveler, but if you're the Bishop of Boston, you shouldn't go.

As I continued through Cicero's pages, I found much more material celebrating my way of life.

I love when I think we're taking territory - if it makes sense in the long term, we just don't give a damn what it looks like in the short term. After all, we're running a cult, not a normal company.

Most people are too fretful, they worry to much. Success means being very patient, but aggressive when it's time.

I think I've been in the top 5% of my age cohort all my life in understanding the power of incentives, and all my life I've underestimated it.

If all you needed to do is to figure out what company is better than others, everyone would make a lot of money. But that is not the case. They keep raising the prices to the point when the odds change.

I think that, every time you saw the word EBITDA, you should substitute the word "bullshit" earnings.

If you don't keep learning, other people will pass you by. Temperament alone won't do it - you need a lot of curiosity for a long, long time.

You don't have to be brilliant, only a little bit wiser than the other guys, on average, for a long, long, time.

The tradition of always looking for the answer in the most fundamental way available - that is a great tradition, and it saves a lot of time in this world.

Litigation is notoriously time-consuming, inefficient, costly and unpredictable.

Most people don't grab the right ideas or don't know what to do with them.

If you can buy the best companies, over time the pricing takes care of itself.

It would be nice if this [finding really cheap stocks] happened all the time. Unfortunately, it doesn't.