Charlie Munger’s Top 10 Trading Quotes
1. Make big money by waiting, not by buying and selling.
2. Reasons for bankruptcy: alcohol, women, leverage.
3. Investment choices: invest, not invest, don’t understand.
4. A 50% retracement is acceptable, but mediocre performance is not.
5. It’s better to buy a great company than a mediocre one.
6. Avoid stupid things, the long-term rewards are better than becoming smarter.
7. Know the place of death and stay away from it.
8. It takes courage to hold cash rather than stocks. Instead of chasing mediocre opportunities, I am what I am today.
9. Think reversely and look at the problem from a different perspective.
10. Becoming rich is like a snowball, it takes a long time.
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