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What I would say is the single most important thing, if you want to avoid all the stupid errors, is knowing where you're competent and where you aren't. And that's very hard to do because the human mind naturally tries to make you think you're way smarter than you are.

— Charlie Munger

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More quotes by Charlie Munger

Good investing requires a weird combination of patience and aggression.

I don't think that she knows who Adam Smith was.

If you want to succeed in investments, start early and try hard and keep doing it. All success comes that way, by and large.

The hard part of the process for most people is the first $100,000. If you have a standing start at zero, getting together $100,000 is a long struggle for most people.

I think American education could be better — but not in the hands of many of the people who now teach it.

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Attribution

Quote text and notes from Wikiquote: Charlie Munger (page history), available under CC BY-SA 4.0. Source quality and labels are our own summary of what Wikiquote records.