Compounding Dividends’ Post

 From the power of patience to the importance of simplicity, these quotes offer timeless insights. Learning from mistakes, acknowledging what we don't know, and continuous learning are keys to success in any venture. 🌟  #Investing #Wisdom #CharlieMunger

The 25 best quotes of Charlie Munger 1. Investing is where you find a few great companies and then sit on your ass. 2. The big money is not in buying or selling, but in the waiting. 3. Like Warren, I had a considerable passion to get rich, not because I wanted Ferrari's - I wanted the independence. I desperately wanted it. 4. We have a passion for keeping things simple. 5. Assume life will be really tough, and then ask if you can handle it. If the answer is yes, you've won. 6. Think of the basic intellectual dishonesty that comes when you start talking about adjusted EBITDA. You're almost announcing you're a flake. 7. If investing wasn't hard, everyone would be rich. 8. You don't have to be brilliant, only a little bit wiser than the other guys, on average, for a long, long time. 9. The desire to get rich fast is pretty dangerous. 10. Those who keep learning will keep rising in life. 11. There is no way you can live an adequate life without making mistakes. 12. Acknowledging what you don't know is the dawning of wisdom. 13. No wise pilot, no matter how great his talent and experience, fails to use a checklist. 14. There is no better teacher than history in determining the future. There are answers worth billions of dollars in 30$ history books. 15. A lot of people with high IQs are terrible investors because they've got terrible temperaments. 16. It's waiting that helps you as an investor and a lot of people just can't stand to wait. If you didn't get the deferred -gratification gene, you've got to work very hard to overcome that. 17. You don't have to be brilliant, only a little bit wiser than the other guys, on average, for a long, long time. 18. One of the greatest ways to avoid trouble is to keep it simple... the system often goes out of control. 19. Knowing what you don't know is more useful than being brilliant. 20. If a business earns 18% on capital over 20 or 30 years, even if you pay an expensive looking price, you’ll end up with a fine result. 21. Forgetting your mistakes is a terrible error if you’re trying to improve your cognition. Reality doesn’t remind you. Why not celebrate stupidities in both categories? 22. You need patience, discipline, and agility to take losses and adversity without going crazy. 23. Everywhere there is a large commission, there is a high probability of a rip-off. 24. It takes character to sit with all that cash and to do nothing. I didn't get to the top where I am by going after mediocre opportunities. 25. We both (Warren Buffett) insist on a lot of time being available almost every day to just sit and think. That is very uncommon in American business. We read and think. __ 📚 You want more? I made a summary of all public writings of Warren Buffett (5,000 pages). It's like a free book. Grab it here: https://lnkd.in/etv49Npu

This is great advice for aspiring investors.

The 25 best quotes of Charlie Munger 1. Investing is where you find a few great companies and then sit on your ass. 2. The big money is not in buying or selling, but in the waiting. 3. Like Warren, I had a considerable passion to get rich, not because I wanted Ferrari's - I wanted the independence. I desperately wanted it. 4. We have a passion for keeping things simple. 5. Assume life will be really tough, and then ask if you can handle it. If the answer is yes, you've won. 6. Think of the basic intellectual dishonesty that comes when you start talking about adjusted EBITDA. You're almost announcing you're a flake. 7. If investing wasn't hard, everyone would be rich. 8. You don't have to be brilliant, only a little bit wiser than the other guys, on average, for a long, long time. 9. The desire to get rich fast is pretty dangerous. 10. Those who keep learning will keep rising in life. 11. There is no way you can live an adequate life without making mistakes. 12. Acknowledging what you don't know is the dawning of wisdom. 13. No wise pilot, no matter how great his talent and experience, fails to use a checklist. 14. There is no better teacher than history in determining the future. There are answers worth billions of dollars in 30$ history books. 15. A lot of people with high IQs are terrible investors because they've got terrible temperaments. 16. It's waiting that helps you as an investor and a lot of people just can't stand to wait. If you didn't get the deferred gratification gene, you've got to work very hard to overcome that. 17. You don't have to be brilliant, only a little bit wiser than the other guys, on average, for a long, long time. 18. One of the greatest ways to avoid trouble is to keep it simple... the system often goes out of control. 19. Knowing what you don't know is more useful than being brilliant. 20. If a business earns 18% on capital over 20 or 30 years, even if you pay an expensive looking price, you’ll end up with a fine result. 21. Forgetting your mistakes is a terrible error if you’re trying to improve your cognition. Reality doesn’t remind you. Why not celebrate stupidities in both categories? 22. You need patience, discipline, and agility to take losses and adversity without going crazy. 23. Everywhere there is a large commission, there is a high probability of a rip-off. 24. It takes character to sit with all that cash and to do nothing. I didn't get to the top where I am by going after mediocre opportunities. 25. We both (Warren Buffett) insist on a lot of time being available almost every day to just sit and think. That is very uncommon in American business. We read and think. 📚 If you enjoyed this piece, please hit the “Like” button. Thank you for your support! __ 💡If you liked this, you'll love this document full of wisdom from Charlie Munger: https://lnkd.in/eevM8_Tt

The 25 best quotes of Charlie Munger 1. Investing is where you find a few great companies and then sit on your ass. 2. The big money is not in buying or selling, but in the waiting. 3. Like Warren, I had a considerable passion to get rich, not because I wanted Ferrari's - I wanted the independence. I desperately wanted it. 4. We have a passion for keeping things simple. 5. Assume life will be really tough, and then ask if you can handle it. If the answer is yes, you've won. 6. Think of the basic intellectual dishonesty that comes when you start talking about adjusted EBITDA. You're almost announcing you're a flake. 7. If investing wasn't hard, everyone would be rich. 8. You don't have to be brilliant, only a little bit wiser than the other guys, on average, for a long, long time. 9. The desire to get rich fast is pretty dangerous. 10. Those who keep learning will keep rising in life. 11. There is no way you can live an adequate life without making mistakes. 12. Acknowledging what you don't know is the dawning of wisdom. 13. No wise pilot, no matter how great his talent and experience, fails to use a checklist. 14. There is no better teacher than history in determining the future. There are answers worth billions of dollars in 30$ history books. 15. A lot of people with high IQs are terrible investors because they've got terrible temperaments. 16. It's waiting that helps you as an investor and a lot of people just can't stand to wait. If you didn't get the deferred gratification gene, you've got to work very hard to overcome that. 17. You don't have to be brilliant, only a little bit wiser than the other guys, on average, for a long, long time. 18. One of the greatest ways to avoid trouble is to keep it simple... the system often goes out of control. 19. Knowing what you don't know is more useful than being brilliant. 20. If a business earns 18% on capital over 20 or 30 years, even if you pay an expensive looking price, you’ll end up with a fine result. 21. Forgetting your mistakes is a terrible error if you’re trying to improve your cognition. Reality doesn’t remind you. Why not celebrate stupidities in both categories? 22. You need patience, discipline, and agility to take losses and adversity without going crazy. 23. Everywhere there is a large commission, there is a high probability of a rip-off. 24. It takes character to sit with all that cash and to do nothing. I didn't get to the top where I am by going after mediocre opportunities. 25. We both (Warren Buffett) insist on a lot of time being available almost every day to just sit and think. That is very uncommon in American business. We read and think. 📚 If you enjoyed this piece, please hit the “Like” button. Thank you for your support! __ 💡If you liked this, you'll love this document full of wisdom from Charlie Munger: https://lnkd.in/eevM8_Tt

🎩📚 The Legend Fades: Charlie Munger's Unconventional Wisdom 📚🎩 "Good investing requires a weird combination of patience and aggression." 🤔💼 Today, we mourn the passing of a man whose brilliance was as unconventional as his quotes. Charlie Munger, the unapologetic but sage partner of Warren Buffet, left us at 99. His rough charm will be missed at the annual Berkshire Hathaway meeting next year. But his wit, wisdom, and downright unorthodox approach to life and finance will forever echo in the halls of unconventional thinking. Here's the scoop on what I learnt from Munger and what made him one of the quirkiest yet most revered minds in the world of investments: 🔮 "Invert, always invert." Munger's mantra was simple yet profound. He believed that solving problems involved flipping them upside down and looking at them from all angles. For example, he believed that, rather than trying to figure out how to be brilliant, it was far more valuable to focus on how to avoid doing stupid stuff. In the same vein, rather than trying to figure out how to be happy, you wrote out a prescription for misery and then avoided it. He not only did it with investments, but it seemed to be his approach to life in general. I still find this useful in making big and small decisions. 🧠 "The best thing a human being can be is a good partner in a joint venture." Munger wasn't just an investing genius; he was a master collaborator. He understood that two heads are often better than one and that partnerships could lead to astonishing outcomes. 💼 "To get what you want, you have to deserve what you want." Charlie Munger knew that success wasn't handed out like candy on Halloween. You had to earn it. Whether in business or life, he believed in putting in the work to deserve your dreams. 🌪️ "Spend each day trying to be a little wiser than you were when you woke up." Munger was the perpetual student. He devoured books, devoured knowledge, and devoured life. He knew that each day was a chance to become a little bit better. 💡 "I'm right and you're wrong. I know what's best for you, and you should do things my way." Okay, that last one was a joke. Munger was known for his candid, no-nonsense approach to life, but he also had a keen sense of humor. So, as we say goodbye to a man who lived life on his own terms, let's remember Charlie Munger's wisdom. Whether you're an investor, entrepreneur, or just someone trying to figure life out, his unconventional thinking can inspire us all to see the world from a different angle. Farewell, Charlie. You were anything but ordinary, and that's what made you extraordinary. 🙏📈 #CharlieMunger #UnconventionalWisdom #InvestingLegend #Moneywisedoctor

My favorite Charlie Munger life and investing lessons: 1. Investing is where you find a few great companies and then sit on your ass. 2. Like Warren, I had a considerable passion to get rich, not because I wanted Ferrari's - I wanted the independence. 3. You don't have to be brilliant, only a little bit wiser than the other guys, on average, for a long, long time. 4. One of the greatest ways to avoid trouble is to keep it simple... the system often goes out of control. 5. A lot of people with high IQs are terrible investors because they've got terrible temperaments. 6. Knowing what you don't know is more useful than being brilliant. 7. If a business earns 18% on capital over 20 or 30 years, even if you pay an expensive looking price, you’ll end up with a fine result. 8. A great business at a fair price is superior to a fair business at a great price. 9. You'd be amazed at how much Warren reads -at how much I read. They think I'm a book with a couple of legs sticking out. 10. The best thing a human can do is to help another human being know more. 11. To get what you want, you have to deserve what you want. The world is not yet a crazy enough place to reward a whole bunch of undeserving people. 12. 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. 13. How to find a good spouse? The best single way is to deserve a good spouse. 14. We have three baskets for investing: yes, no, and too tough to understand. 15. Invert, always invert: Turn a situation or problem upside down. Look at it backward. 16. It is remarkable how much long-term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be intelligent. 17. It’s the work on your desk. Do well with what you already have and more will come in. 18. Mimicking the herd invites regression to the mean. 19. Always take the high road, it’s far less crowded. 20. Every time you hear EBITDA, just substitute it with bullshit

My favorite Charlie Munger life and investing lessons: 1. Investing is where you find a few great companies and then sit on your ass. 2. Like Warren, I had a considerable passion to get rich, not because I wanted Ferrari's - I wanted the independence. 3. You don't have to be brilliant, only a little bit wiser than the other guys, on average, for a long, long time. 4. One of the greatest ways to avoid trouble is to keep it simple... the system often goes out of control. 5. A lot of people with high IQs are terrible investors because they've got terrible temperaments. 6. Knowing what you don't know is more useful than being brilliant. 7. If a business earns 18% on capital over 20 or 30 years, even if you pay an expensive looking price, you’ll end up with a fine result. 8. A great business at a fair price is superior to a fair business at a great price. 9. You'd be amazed at how much Warren reads -at how much I read. They think I'm a book with a couple of legs sticking out. 10. The best thing a human can do is to help another human being know more. 11. To get what you want, you have to deserve what you want. The world is not yet a crazy enough place to reward a whole bunch of undeserving people. 12. 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. 13. How to find a good spouse? The best single way is to deserve a good spouse. 14. We have three baskets for investing: yes, no, and too tough to understand. 15. Invert, always invert: Turn a situation or problem upside down. Look at it backward. 16. It is remarkable how much long-term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be intelligent. 17. It’s the work on your desk. Do well with what you already have and more will come in. 18. Mimicking the herd invites regression to the mean. 19. Always take the high road, it’s far less crowded. 20. Every time you hear EBITDA, just substitute it with bullshit

My favorite Charlie Munger life and investing lessons: 1. Investing is where you find a few great companies and then sit on your ass. 2. Like Warren, I had a considerable passion to get rich, not because I wanted Ferrari's - I wanted the independence. 3. You don't have to be brilliant, only a little bit wiser than the other guys, on average, for a long, long time. 4. One of the greatest ways to avoid trouble is to keep it simple... the system often goes out of control. 5. A lot of people with high IQs are terrible investors because they've got terrible temperaments. 6. Knowing what you don't know is more useful than being brilliant. 7. If a business earns 18% on capital over 20 or 30 years, even if you pay an expensive looking price, you’ll end up with a fine result. 8. A great business at a fair price is superior to a fair business at a great price. 9. You'd be amazed at how much Warren reads -at how much I read. They think I'm a book with a couple of legs sticking out. 10. The best thing a human can do is to help another human being know more. 11. To get what you want, you have to deserve what you want. The world is not yet a crazy enough place to reward a whole bunch of undeserving people. 12. 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. 13. How to find a good spouse? The best single way is to deserve a good spouse. 14. We have three baskets for investing: yes, no, and too tough to understand. 15. Invert, always invert: Turn a situation or problem upside down. Look at it backward. 16. It is remarkable how much long-term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be intelligent. 17. It’s the work on your desk. Do well with what you already have and more will come in. 18. Mimicking the herd invites regression to the mean. 19. Always take the high road, it’s far less crowded. 20. Every time you hear EBITDA, just substitute it with bullshit