one minute blog: 10 bits of wisdom from Charlie Munger

This is the One Minute Blog (OMB). An email of good stuff for you to think about over the weekend, that takes a minute to read.

Today’s word count: 183

It took me 49s to read this.

I’m currently reading “Poor Charlie’s Almanack” again (so good):

Here are my top 10 favorite “bits of wisdom” from Charlie Munger so far:

1. “You don't have to attend every argument you're invited to.”

2. "If crooks knew how much money they could make being honest, they’d behave differently."

3. "Smart men go broke 3 ways - liquor, ladies, and leverage."

4. "Try to be consistently not stupid, rather than trying to be very intelligent."

5. "Show me the incentives and I will show you the outcome."

6. “The first rule of fishing is to fish where the fish are."

7. "The people who rise in life are not those who are the smartest, but they who are learning machines. They go to bed every night a little wiser than when they woke up."

8. "Everything that needs to be said has already been said. But since no one was listening, everything must be said again."

9. "Someone will always be getting richer faster than you. This is not a tragedy..."

10. "The world is not driven by greed. It's driven by envy. The fact that everybody is 5x better off today than they used to be, is taken for granted. All they can focus on is their neighbor doing better than them."

That’s all folks. Back again next week. Every Friday, with the One Minute Blog.  

-Uncle Shaan

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