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Everyone has probably read a few quotes from Charlie Munger before but it isn't a bad way to start a new investing week. Here are a few of my favourites. Several quotes are a bick tick to the LTR forum.

“I believe in the discipline of mastering the best that other people have ever figured out. I don’t believe in just sitting down and trying to dream it all up yourself. Nobody’s that smart.”

“You must force yourself to consider opposing arguments. Especially when they challenge your best-loved ideas.”

“Acknowledging what you don’t know is the dawning of wisdom.”

“An idiot, or a computer, can diversify a portfolio. But the whole trick of the game is to have a few times when you know something is better than average and invest only where you have that extra knowledge. If that gets you a few opportunities, that’s enough.”

“If you took our top fifteen decisions out,
we’d have a pretty average record. It wasn’t hyperactivity but a hell of a lot of patience. You stuck to your principles, and when opportunities came along, you pounced on them with vigor.”

“Most people are too fretful, they worry too much. Success means being very patient, but aggressive when it’s time.”