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How Charlie Munger Saved Me A Fortune

Charlie Munger Saved Me A Fortune

A Collection Of
 Truths, Ideas And Observations
 Which Can Dramatically Enhance
 Your Quality Of Life!

This is a list inspired by Charlie Munger of some of the things I’ve learnt so far on my journey through life, it’s by no means complete and so I invite you to add your own in the comments. Enjoy.

Self esteem is everything: The first “must have” for success is… the honest-to-God, no-BS belief you deserve success!

Nothing wins more than superior preparation.

People will do almost anything to stay in their “comfort zone.” Never take someone out of their own comfort zone when you are trying to sell them something.

On the other hand, if you have the courage to put yourself outside your own “comfort zone”… repeatedly… you will certainly gain humongous rewards.

All men are very much alike. It is their habits which separate them.

Time is the irretrievable element. The most important choices you will ever make is how you use your time. Remember… every second counts!

If you have enough money to solve a problem… then… you don’t have a problem.

Bankers only lend money to people who don’t need it.

Marketing is the fuel which drives your business.

Never buy a restaurant when all you want is a meal. It’s like marrying a woman and committing to her for life… when… all you really want some lovin.

You can be good at making excuses… or… you can be good at producing results. You cannot be good at both. Only you can decide.

Never punish anyone… including yourself… for any mistake made out of enthusiasm.

If you desire to become wealthy, you must be in business for yourself.

It takes almost the same amount of time and energy to manage tiny projects or businesses as it takes to manage massive ones… but… the massive ones are the ones which give you massive rewards.

The first wealth is health.

Always, always, always pay retail. It’s so much cheaper (in the long-run).

You can’t get something for nothing. The price is too high.

An alert, focused, razor-sharp mind can slice through any challenge.

Wealth is the result of man’s capacity to think and implement.

People treat you like you teach them to treat you and how you treat yourself is what you’re teaching them.

Cut all ties with dishonest, negative or lazy people. This includes relatives and close friends. You simply cannot afford to have them in your life.

Your work is not your life. It is only a part of your life. People who are obsessed with work are running away from life. No matter how much money they are making, they are still losers.

Spend your life. Don’t save it. If you do save it, you’ll die a bitter, bitter man.

Situations aren’t important. How you react to them is. You have to play it where it lies.

If your purpose in life is to have security, you will be a failure. Security is the lowest form of happiness. (Besides, security simply doesn’t exist.)

Great love and great achievement involve great risk.

It is far better to apologise for something you’ve already done… than… it is to ask permission for something you want to do. After all, that permission may be denied.

Most people spend 90% of their time on what they’re not best at… and… only 10% of their time on their best ability. Successful people delegate that 90%… and… are thus able to spend all their time on their “unique” ability.

The formula for business success is simple: Find out what people want and give it to them. But, you must find out what they really want… not… just what they say they want.

The fastest way to find out what they really want is to see if they’ll spend money on it.

The best way to get started is to get started.

Movement always produces more results than meditation.

Attack life. Wait for nothing.

He who has half the deed done who has made a beginning.

The future starts today (right now)… not tomorrow.

When it’s a matter of producing or starving, people don’t starve.

Surround yourself with a first-class team of people and do whatever it takes to keep them in your business.

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