📈【Munger's 9 Investment Wisdoms, Understand to Avoid a Decade of Detours】

✨ True wealth accumulation is never about frequent trading games, but about the sedimentation of waiting for the right moment.

💡 Sharing 9 quotes from Munger that penetrate the essence of investing:

1. Making big money does not rely on buying and selling, but on waiting—time is a friend of value, and patience is scarcer than skill.

2. The threefold bankruptcy traps: alcoholism, lust, gambling—beware of the desire trap; safeguarding your principal is essential to discuss the future.

3. If you can't face a 50% drawdown, don't expect extraordinary returns—high rewards are hidden on the other side of risk.

4. Buying great companies at a higher price is fine; even cheap mediocre companies can be a pitfall—choosing the right track is more important than the price.

5. Not doing foolish things > playing smart—avoiding mistakes is more crucial for long-term gains than chasing opportunities.

6. First think about "where you might die," then avoid the danger zones—reverse thinking helps you stay away from blind spots of failure.

7. Being in cash requires courage; rejecting mediocre opportunities is the key to success—learn to say no to "good enough."

8. Look at problems from a different angle—be fearful when others are greedy, and be greedy when others are fearful.

9. Becoming rich is like rolling a snowball: find a long slope and keep rolling down—choose the right track, and compound interest will amplify your persistence.

🌟 Investing is like life; the core is not about stacking skills but about elevating understanding. May you stay clear-headed amidst volatility, and keep your heart in the noise—slow is fast, and less is more.