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Charlie Munger Quotes: Move only when you have an advantage. It's very basic. You have to understand the odds and have the discipline to bet only when the odds are in your favor.
         

Move only when you have an advantage. It's very basic. You have to understand the odds and have the discipline to bet only when the odds are in your favor.


Charlie Munger
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Other quotes of Charlie Munger


The best thing a human being can do is to help another human being know more.

The best thing a human being can do is to help another human being know more.



Intelligent people make decisions based on opportunity costs.

Intelligent people make decisions based on opportunity costs.



Mimicking the herd invites regression to the mean.

Mimicking the herd invites regression to the mean.



I did not succeed in life by intelligence. I succeeded because I have a long attention span.

I did not succeed in life by intelligence. I succeeded because I have a long attention span.



The big money is not in the buying and selling ... but in the waiting.

The big money is not in the buying and selling ... but in the waiting.



Great investing requires a lot of delayed gratification.

Great investing requires a lot of delayed gratification.



When you locate a bargain, you must ask, 'Why me, God? Why am I the only one who could find this bargain?'

When you locate a bargain, you must ask, 'Why me, God? Why am I the only one who could find this bargain?'



Our job is to find a few intelligent things to do, not to keep up with every damn thing in the world.

Our job is to find a few intelligent things to do, not to keep up with every damn thing in the world.



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.

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.



A lot of success in life and business comes from knowing what you want to avoid: early death, a bad marriage, etc.

A lot of success in life and business comes from knowing what you want to avoid: early death, a bad marriage, etc.





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For every runner who tours the world running marathons, there are thousands who run to hear the leaves and listen to the rain, and look to the day when it is suddenly as easy as a bird in flight.

For every runner who tours the world running marathons, there are thousands who run to hear the leaves and listen to the rain, and look to the day when it is suddenly as easy as a bird in flight.



You don't have to stay trapped in your thoughts just because you think them.

You don't have to stay trapped in your thoughts just because you think them.



I drive a tiny Toyota iQ. I'm quite frugal and often cut my own hair.

I drive a tiny Toyota iQ. I'm quite frugal and often cut my own hair.



In our concern for others, we worry less about ourselves.

In our concern for others, we worry less about ourselves.



My mantra is "Better is better".

My mantra is "Better is better".



Much of the excitement we get out of our work is that we don't really know what we are doing.

Much of the excitement we get out of our work is that we don't really know what we are doing.



There's times when the crockery seems alive, an' flies out o' your hand like a bird. It's like the glass, sometimes, 'ull crack as it stands. What is to be broke will be broke.

There's times when the crockery seems alive, an' flies out o' your hand like a bird. It's like the glass, sometimes, 'ull crack as it stands. What is to be broke will be broke.



Madman! Look through my eyes if thou hast none of thine own.

Madman! Look through my eyes if thou hast none of thine own.



If they just carried on like always, everything would be ok.

If they just carried on like always, everything would be ok.




Quote Description


This page presents the quote "Move only when you have an advantage. It's very basic. You have to understand the odds and have the discipline to bet only when the odds are in your favor.". Author of this quote is Charlie Munger. This quote is about discipline, advantage, moving, odds,.