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Becoming Rich
(9)
Trying to minimize taxes too much is one of the great standard cuases of really dumb mistakes.
—
Charles T. Munger
,
Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger, Expanded Third Edition
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We just look for no-brainer decisions. As Buffett and I say over and over again, we don't leap seven-foot fences.
—
Charles T. Munger
,
Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger, Expanded Third Edition
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I sometimes tell my friends, "I'm doing the best I can. But I've never grown old before. I'm doing it for the first time. And I'm not sure that I'll do it right."
—
Charles T. Munger
,
Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger, Expanded Third Edition
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An undertaker, of course, would look very unseemly if he were jumping up and down and playing his fiddle during the plague.
—
Charles T. Munger
,
Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger, Expanded Third Edition
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In essence, we are going into the business of creating and maintaing conditioned reflexes.
—
Charles T. Munger
,
Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger, Expanded Third Edition
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Academic psychology departments are immensely more important and useful than other academic departments think. And, at the same time, the psychology departments are immensely worse than most of their inhabitants think.
—
Charles T. Munger
,
Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger, Expanded Third Edition
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Remember Louis Vincenti's rule: Tell the truth, and you won't have to remember your lies. It's such a simple concept.
—
Charles T. Munger
,
Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger, Expanded Third Edition
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Our game is to recognize a big idea when it comes along,when one doesn't come along very often. Opportunity comes to the prepared mind.
—
Charles T. Munger
,
Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger, Expanded Third Edition
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I read everything: annual reports, 10K's, 10Q's, biographies, histories, five newspapers a day. On airplanes, I read the instructions on the backs of the seats. Reading is key. Reading has made me rich over time.
—
Charles T. Munger
and
Warren Buffett
,
Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger, Expanded Third Edition
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