“In business we often find that the winning system goes almost ridiculously far in maximizing and/or minimizing one or a few variables—like the discount warehourses of Costco.”
Charlie Munger (verified)
Poor Charlie’s Almanack (Primary source)
In the tradition of Benjamin Franklin’s own almanack, Poor Charlie’s Almanack stands as a remarkable distillation of one man’s lifelong pursuit of what he termed elementary worldly wisdom. Compiled with evident devotion by Peter Kaufman and first published in 2005, this volume represents the most comprehensive gathering of Charles Munger’s speeches, insights, and philosophical observations spanning two decades of public discourse.
More about “Poor Charlie’s Almanack” →
“So you have to figure out what your own aptitudes are. If you play games where other people have the aptitudes and you don’t, you’re going to lose. And that’s as close to certain as any prediction you can make. You have to figure out where you’ve got an edge. And you’ve got to play within your own circle of competence.”
— Charlie Munger (verified)“In my whole life, I have known no wise people (over a broad subject matter) who didn’t read all the time—none, zero. You’d be amazed how much Warren reads—and at how much I read. My children laugh at me. They think I’m a book with a couple of legs sticking out.”
— Charlie Munger (verified)“Addiction can happen to any of us through a subtle process where the bonds of degradation are too light to be felt until when they are too strong to be broken.”
— Charlie Munger (verified)“I think a life properly lived is just learn, learn, learn all the time.”
— Charlie Munger (verified)More quotes by Charlie Munger →
“Contradictions do not exist. Whenever you think that you are facing a contradiction, check your premises. You will find that one of them is wrong.”
— Ayn Rand (verified)“So convenient a thing is it to be a reasonable creature, since it enables one to find or make a reason for everything one has a mind to do.”
— Benjamin Franklin (verified)“There is no merit in putting off a war for a year if, when it comes, it is a far worse war or one much harder to win.”
— Winston Churchill (verified)“The only way to have a friend is to be one.”
— Ralph Waldo Emerson (verified)