Great investing requires a lot of delayed gratification.
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Other Charlie Munger quotes:
No wise pilot, no matter how great his talent and experience, fails to use his checklist.
A lot of success in life and business comes from knowing what you want to avoid: early death, a bad marriage, etc.
It's dishonourable to stay stupider than you need to be.
Those who keep learning, will keep rising in life.
Almost all good businesses engage in 'pain today, gain tomorrow' activities.
If all you succeed in doing in life is getting rich by buying little pieces of paper, it's a failed life. Life is more than being shrewd in wealth accumulation.
The best armor of old age is a well-spent life preceding it.
Avoid working directly under somebody you don't admire and don't want to be like.
I'm right, and you're smart, and sooner or later you'll see I'm right.
A business model that relies on trickery is doomed to fail.
