Charlie Munger turns 99: 9 useful quotes by the billionaire investor – Moneycontrol

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Billionaire investor and vice-chairman of Berkshire Hathaway, Charlie Munger, turned 99 on Sunday.  The legendary businessman often shares snippets of advice regarding investment and here are nine useful quotes by him.
1.) “The best armour of old age is a well spent life preceding it.”
2.) “The world is not driven by greed. It’s driven by envy. I have conquered envy in my own life. I don’t envy anybody. I don’t give a damn what someone else has. But other people are driven crazy by it.”
3.) “You’re not going to get very far in life on the basis of what you already know. You’re going to advance in life by what you’re going to learn.”
4.) The big money is not in the buying and the selling, but in the waiting.
5.) “There is no better teacher than history in determining the future… There are answers worth billions of dollars in a history book.”
6.) “How to find a good spouse? The best single way is to deserve a good spouse.”
7.) “I constantly see people rise in life who are not the smartest, sometimes not even the most diligent, but they are learning machines. They go to bed every night a little wiser than they were when they got up and boy does that help, particularly when you have a long run ahead of you.”
Read more: Charlie Munger’s ‘brutal honesty’ made him one of Nithin Kamath’s favourites
8.) “A lot of people with high IQs are terrible investors because they’ve got terrible temperaments. And that is why we say that having a certain kind of temperament is more important than brains. You need to keep raw irrational emotion under control. You need patience and discipline and an ability to take losses and adversity without going crazy. You need an ability to not be driven crazy by extreme success.”
9.) “In my whole life, I have known no wise people (over a broad subject matter area) who didn’t read all the time — none, zero. You’d be amazed at how much Warren (Buffett) reads–and at how much I read. My children laugh at me. They think I’m a book with a couple of legs sticking out.”
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