If you took our top fifteen decisions out, we'd have a pretty average record. It wasn't hyperactivity, but a hell of a lot of patience. You stuck to your principles and when opportunities came along, you pounced on them with vigor.
Charlie MungerAll intelligent investing is value investing - acquiring more that you are paying for. You must value the business in order to value the stock.
Charlie MungerIf it is wisdom you're after, you're going to spend a lot of time on your ass reading.
Charlie MungerIf we've been a little more successful than other people, is because we always realised that the school of life was always open, and if you were not learning more you are falling behind.
Charlie MungerWell the open-outcry auction is just made to turn the brain into mush: you've got social proof, the other guy is bidding, you get reciprocation tendency, you get deprival super-reaction syndrome, the thing is going away... I mean it just absolutely is designed to manipulate people into idiotic behavior.
Charlie Munger