“A good example is the best sermon.”
Benjamin Franklin (verified)
“Part of what you must learn is how to handle mistakes and new facts that change the odds. Life, in part, is like a poker game, wherein you have to learn to quit sometimes when holding a much-loved hand.”
— Charlie Munger (verified)“As usual in human affairs, what determines the behavior are incentives for the decision-maker, and getting the incentives right is a very, very important lesson.”
— Charlie Munger (verified)“Biological creatures ordinarily prefer effort minimization in routine activities and don’t like removals of long-enjoyed benefits.”
— Charlie Munger (verified)“If you want to change behaviors, you have to change motivations.”
— Charlie Munger (verified)“Show me the incentive and I will show you the outcome.”
— Charlie Munger (unverified)