If you get into the mental habit of relating what you're reading to the basic structure of the underlying ideas being demonstrated, you gradually accumulate some wisdom.
Charlie MungerDetermine value apart from price; progress apart from activity; wealth apart from size.
Charlie MungerAn investment decision in the common stock of a company frequently involves a whole lot of factors interacting ... the one thing that causes the most trouble is when you combine a bunch of these together, you get this lollapalooza effect.
Charlie MungerThe tradition of always looking for the answer in the most fundamental way available - that is a great tradition, and it saves a lot of time in this world.
Charlie MungerFor years I have read the morning paper and harrumphed. There's a lot to harrumph about now.
Charlie MungerFailure to handle psychological denial is a common way for people to go broke: you have made an enormous commitment to something. You have poured effort and money in. And the more you put in, the more that the whole consistency principle makes you think, "Now it has to work. If I put in just a little more, then it will work."
Charlie Munger