查理·芒格
美國投資家
對于只有一把錘子的人來說，每個問題看起來都像是釘子。
如果你想變得聰明，你需要不斷問的問題是‘為什么，為什么，為什么？’
The idea of a margin of safety, a Graham precept, will never be obsolete. The idea of making the market your servant will never be obsolete. The idea of being objective and dispassionate will never be obsolete.
I constantly see people rise in life who are not the smartest, sometimes not even the most diligent, but they are learning machines. They go to bed every night a little wiser than they were when they got up and boy does that help, particularly when you have a long run ahead of you.
I think track records are very important. If you start early trying to have a perfect one in some simple thing like honesty, you’re well on your way to success in this world.
I’m a great believer in solving hard problems by using a checklist. You need to get all the likely and unlikely answers before you; otherwise it’s easy to miss something important.
No wise pilot, no matter how great his talent and experience, fails to use his checklist..
It’s not given to human beings to have such talent that they can just know everything about everything all the time. But it is given to human beings who work hard at it — who look and sift the world for a mispriced bet — that they can occasionally find one.
The difference between a good business and a bad business is that good businesses throw up one easy decision after another. The bad businesses throw up painful decisions time after time.
The game of life is the game of everlasting learning. At least it is if you want to win.
Spend each day trying to be a little wiser than you were when you woke up.
Problems frequently get easier if you turn them around in reverse. In other words, if you want to help India, the question you should ask is not “how can I help India,” it’s “what is doing the worst damage in India? What will automatically do the worst damage and how do I avoid it?”
Envy is a really stupid sin because it’s the only one you could never possibly have any fun at. There’s a lot of pain and no fun. Why would you want to get on that trolley?
Well, the first rule is that you can’t really know anything if you just remember isolated facts and try and bang ’em back. If the facts don’t hang together on a latticework of theory, you don’t have them in a usable form.
All I want to know is where I’m going to die, so I’ll never go there.
I have a very simple idea on how to get rich. The first is to spend less than you make, and the second is to invest the difference wisely.
The iron rule of nature is: you get what you reward for. If you want ants to come, you put sugar on the floor.
You have to figure out what your own aptitudes are. If you play games where other people have the aptitudes and you don’t, you’re going to lose. And that’s as close to certain as any prediction that you can make. You have to figure out where you’ve got an edge. And you’ve got to play within your own circle of competence.
I don’t think you should spend much time being unhappy about the bad breaks. You get a lot of them, but you also get a lot of good ones. The thing to do is just to maximize your odds of using the good ones and minimizing the effects of the bad ones.