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While a tad oversimplified, Charlie Munger’s famous one-liner is sort of like the Occam’s Razor of human behavior – especially at scale. People are generally far more driven by self-interest than by any other factor.

Chris Rempel • Part 2: creating the new frontier – Chris Rempel's Blog

Peter Kaufman: How many people do you know that are constant at what they do? I know a couple. Warren Buffett and Charlie Munger. Everybody wants to be rich like Warren Buffett, Charlie Munger. I’m telling you how they got rich. They were constant. They were not intermittent.

Thomas Waschenfelder • The Most Powerful Force You Can Harness: Slow, Incremental, Constant Progress - Ideas of wealth cre — Wealest

Ronald Read was patient; Richard Fuscone was greedy. That’s all it took to eclipse the massive education and experience gap between the two.

Morgan Housel • The Psychology of Money: Timeless lessons on wealth, greed, and happiness

successful investor is generally a well-rounded individual who puts a natural curiosity and an intellectual interest to work.

Burton G. Malkiel • A Random Walk Down Wall Street: The Time-Tested Strategy for Successful Investing (Twelfth Edition)

In trading and in life, how you deal with losing is the difference between mediocrity and greatness. Remember, losses are a function of expected gain. The key is to keep your losses less than your gains; always think risk versus reward and base your risk on the reality of your trading results. If you can get a reasonable idea of what your gains wil

Mark Minervini • Think & Trade Like a Champion: The Secrets, Rules & Blunt Truths of a Stock Market Wizard

My friend and fellow value investor, Chris Browne, President of Tweedy Browne,describes what value investors do by telling this story. He was interviewing a new trader andafter the interview, walked them through the Tweedy Browne offices. At the elevator on theirway out, the trader commented, “At other Wall Street firms, just by walking through the... See more

Seth Klarman • Seth A. Klarman remarks at MIT

In an interview with Business Wire in November 2011, Buffett said, “If you understand chapters 8 and 20 of The Intelligent Investor (Benjamin Graham, 1949) and chapter 12 of The General Theory (John Maynard Keynes, 1936), you don’t need to read anything else and you can turn off your TV.”2 This advice from Buffett references two classics from the f... See more

Guatam Baid • Joys Of Compounding: The Passionate Pursuit of Lifelong Learning

Markets:The model I like—to sort of simplify the notion of what goes on in a market for common stocks—is the pari-mutuel system at the racetrack. If you stop to think about it, a pari-mutuel system is a market. Everybody goes there and bets and the odds change based on what's bet. That's what happens in the stock market. Any damn ... See more

Charlie Munger • A Lesson On Elementary, Worldly Wisdom As It Relates To Investment Management & Business – Charles Munger, USC Business School, 1994

One of the guiding principles I use during this process is the Pareto Principle. I’ve often taught it to people at leadership conferences over the years, and I also explain it in depth in my book Developing the Leader Within You.