Great investing requires a lot of delayed gratification.
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Other Charlie Munger quotes:
Most people are too fretful, they worry to much. Success means being very patient, but aggressive when it's time.
Almost all good businesses engage in 'pain today, gain tomorrow' activities.
A business model that relies on trickery is doomed to fail.
What's the best way to get a good spouse? The best single way is to deserve a good spouse because a good spouse is by definition not nuts.
The safest way to get what you want is to deserve what you want.
How to find a good spouse? - the best single way is to deserve a good spouse.
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.
Acknowledging what you don't know is the dawning of wisdom.
The safest way to try to get what you want is to try to deserve what you want. It's such a simple idea. It's the golden rule. You want to deliver to the world what you would buy if you were on the other end.
I did not succeed in life by intelligence. I succeeded because I have a long attention span.
