“The type of person who comes up with the Brilliant Idea isn’t often the best person to turn it into a business.”
Bill Gates (verified)
“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)“Choose clients as you would friends.”
— Charlie Munger (verified)“Just as animals flourish in niches, people who specialize in the business world—and get very good because they specialize—frequently find good economics that they wouldn’t get any other way.”
— Charlie Munger (verified)“Drive thy business, or it will drive thee.”
— Benjamin Franklin (verified)“You don’t need to take the last dollar.”
— Charlie Munger (verified)“I find it quite useful to think of a free market economy—partly free market economy—as sort of the equivalent of an ecosystem. Just as animals flourish in niches, people who specialize in some narrow niche can do very well.”
— Charlie Munger (verified)“At Harvard Business School, the great quantitative thing that bonds the first-year class together is what they call decision tree theory. All they do is take high school algebra and apply it to real-life problems. And the students love it. They’re amazed to find that high school algebra works in life.”
— Charlie Munger (verified)“You ought to dream. All our biggest business men have been dreamers.”
— Ernest Hemingway (verified)