Using volatility as a measure of risk is nuts. Risk to us is 1) the risk of permanent loss of capital, or 2) the risk of inadequate return.
Charlie MungerThis is a good life lesson: getting the right people into your system is the most important thing you can do.
Charlie MungerThe interesting thing is the field is so big - it's enormous. One thing a modern civilization needs is energy.
Charlie MungerThe secret to happiness is to lower your expectations. ...that is what you compare your experience with. If your expectations and standards are very high and only allow yourself to be happy when things are exquisite, you'll never be happy and grateful. There will always be some flaw. But compare your experience with lower expectations, especially something not as good, and you'll find much in your experience of the world to love, cherish and enjoy, every single moment.
Charlie Munger