Investment Wisdom

26. What Are The 3 Simple Yet Powerful Lessons from Warren Buffett & Charlie Munger?

Envy is stupid sin without any upside. Resentment and revenge is crazy. So, don’t be stupid and crazy.

  1. Charlie Munger: There’s an old saying, “What good is envy? It’s the one sin you can’t have any fun at.” It’s 100% destructive. Resentment is crazy. Revenge is crazy. Envy is crazy. If you get
  2. those things out of your life early, life works a lot better.

Temperament is Important.

  1. Warren Buffett: Temperament is more important than IQ (sic: in investing). You need reasonable intelligence, but you absolutely have to have the right temperament. Otherwise, something will snap you.

Be Good At Lifelong Learning. Better still, have  group of friends who help you learn.

Munger: The other big secret is that we’re good at lifelong learning. Warren is better in his 70s and 80s, in many ways, that he was when he was younger. If you keep learning all the time, you have a wonderful advantage.

Source: http://fortune.com/2013/10/31/warren-buffett-and-charlie-mungers-best-advice/

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