
Rate Of Return
Total AssetsCharlie Munger said:
I bought my first car at the age of 60.
Not because I couldn't afford it,
but because I had long realized
money is just a tool, freedom is the goal.
He compressed his lifetime wealth-building logic into two sentences:
Find what works, and do it repeatedly;
Identify what doesn't work, and avoid it resolutely.
Sounds simple,
but the hard part is one thing:
Resisting the urge to compare with others.
True strength lies in
investing time in accumulation,
not chasing fleeting fame,
nor trading for temporary applause.
Yet most people,
after a lifetime,
are merely working
for others' approval.
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