Buffett said that he has met countless people in his life, and he has never met someone like Munger. Munger’s mind is original, never bound by any rules and regulations, and is a master with high IQ and emotional intelligence.

Do any of us have to stand on top of the world? I see no need for that!

-Munger

This sentence comes from a sentence made by Munger at the annual meeting of the Daily Journal company on February 14, 2019. The speech was full of laughter and golden sentences.

Smart investors have selected 34 sentences that are the most classic and worthy of repeated reading, and review these life wisdom and investment thinking with you.

It is enough to invest in a few opportunities

1. When I was very young , I knew that major opportunities, opportunities that belong to me, only need a few, the key is to prepare myself, and when a few opportunities come, seize them .

2. The key to playing the game of investment well is a few opportunities. You can really see that one opportunity is better than other general opportunities , and you know very well that you know more than others.

3. Sometimes , an opportunity is so good that it’s like finding something in a bag. It’s completely reasonable to just buy this opportunity.

4. The gameplay of this game is: always stay in this game, keep an eye on it, don’t let it slip away when a rare opportunity arises, and know that there are not many opportunities for ordinary people to get it.

5. We make money by making money when we buy.

6. Berkshire Hathaway came out of bad business. Luckily we bought it very cheap, and despite a bad hand, we played well. In the end, Berkshire was able to succeed because we switched to buying a good business.

7. Buffett said it well: ” The problem with banking is that there are many banks and few bankers. ” Therefore, if you really want to invest in banks, you can only buy when you are sure of winning. Because over time, the bank’s business will be eroded by gross stupidity.

common sense

8. In a company, the 95-year-old chairman of the board of directors, the 89-year-old vice chairman, and the 80-year-old CEO shoulder all the heavy tasks on crutches, but still aim to occupy the global market, how wonderful, you still come all the way What do you think about when you attend the shareholders meeting? (laugh)

The reason for such a peculiar scene is that we can vaguely see in us that we have always strived for basic morality and sound common sense.

9. Common sense is common sense that ordinary people do not have. When we say that someone has common sense, we really mean that he has common sense that ordinary people do not have. People think it’s easy to have common sense, but it’s actually very difficult.

10. What I understand by “well educated” is knowing when a professor is wrong and knowing what is right. Whatever the professor says is what anyone can do. The key is that you have to distinguish between what the professor is saying is right and what is wrong. This is the person who has received a good education.

11. If you think about the problem thoroughly, the problem is half solved.

Wisdom to Solve Puzzles

12. Knowing the boundaries of your circle of competence is very, very important. If you don’t even know where the boundaries are, how can it be called a circle of competence? If you don’t have that ability, but you think you have it, you must make a big mistake.

13. You have to always compare what you can do with what others can do. You need to always be firm and rational, especially don’t lie to yourself.

14. When dealing with major dangers, my attitude is that the farther away, the better. Others, as long as they don’t fall in, stick as close as possible. I feel too hung up. I don’t want to do that.

15. If there is a problem that I cannot solve, I will draw a warning line so that the problem will never get in. No matter who encounters difficult people, difficult things, there is no good way. My big rule is to get away from it.

16. My way of life is: see through the stupidest things and keep them at a distance. Living like this, I can’t make myself a popular person, but I can take precautions against many troubles.

Simple

17. We succeed not because we are good at solving problems, but because we are good at avoiding them. We are just looking for simple things to do.

18. After finding the best one , as long as it is not as good as this one, don’t look at it. Knowing this makes life easier.

19. A wise man can wait patiently, let time pass, and appreciate the beauty of it. Most people are always busy.

20. Discipline , virtue, critical friends, opportunities are all simple things to say. You really want to learn something from Charlie Munger, remember my words, “Old man, it’s true.” All those traditional virtues that last a lifetime.

take the right path

21. Under the circumstances that we can make a choice, there are many people we should stay away from.

22. Buffett once said a very classic saying: “walk the right way, the road will get wider and wider.” This is true.

23. Find a partner who is better than yourself. No amount of money can buy it. Many people accidentally found a better partner than themselves when they were young. In fact, there is no need to take chances, you can pursue it consciously.

24. Many people had stickers on their bodies that read “Dangerous, Dangerous, Do Not Approach”, and some people rushed forward to meet them. This is definitely a mistake with serious consequences.

25. Buffett often said: “It may not be wise to marry for money. If you already have money, marrying for money is definitely a brain drain.” A person is already rich, and he also ruins his reputation. It stinks and is so stupid.

The secret to longevity and happiness

26 , (Q: What is the secret to your longevity and happiness?)

Not jealous. Do not complain. Don’t overspend. In the face of any difficulties, keep an optimistic attitude. Pay reliable people. Do your duty. It’s all simple truths, and it’s all old-fashioned truths. If you do it, you will benefit from it for a lifetime.

27 , recalling the past, there are always things that can be done better. Everyone is the same. However, everyone is bound to miss the opportunity, this is doomed. I always think that if you can’t change things, don’t be too entangled. Complaining and resentment are taboos in life.

28. Jealousy is also a big taboo, and the sin of jealousy is no fun. Who gets the enjoyment in jealousy? How is jealousy good for you? There is always someone stronger than you. It’s stupid to be jealous of others.

29. Mozart is arguably the greatest musical genius in human history. How is his life going? Mozart was angry, unhappy, and died young.

How did Mozart live like this? He did two things, and whoever did both was enough to suffer.

Mozart didn’t know how to live within his means and splurge on money, this is the first thing. Second, he was full of jealousy and complaints.

30. Some people are born stronger than you. Of course, no matter how hard you work, there will always be someone who can achieve greater achievements than you. My mentality was “So what?” Do any of us have to be on top of the world? I see no need for that!

31. Whoever is extravagant, full of jealousy and complaints, will surely live a miserable and miserable life and leave the world early. If you want to live hard and die early, please learn from Mozart.

32. The secret to making money is saving money and living a simple life. When Buffett and I were young and had no money, we were saving money and saving money for investment. Persevere for a lifetime, and in the end you will be rich.

33 , I have lived such a long life, and I live well, there is a secret, I tell you: don’t think too much of human nature.

34. Human nature has many defects and faults. If you are dissatisfied with everything you see, complaining and resentful, it will only backfire, and you will deceive yourself, and you will not be able to change the world.

Destroy yourself, how should the world be, how worthless? Not worth it. I never do such stupid things.

This article is reprinted from: https://news.futunn.com/post/16335881?src=3&report_type=market&report_id=207887&futusource=news_headline_list
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