A Quote by Charlie Munger
A few major opportunities, clearly recognizable as such, will usually come to one who continuously searches and waits, with a curious mind, loving diagnosis involving multiple variables. And then all that is required is a willingness to bet heavily when the odds are extremely favorable, using resources available as a result of prudence and patience in the past.
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The wise ones bet heavily when the world offers them that opportunity. They bet big when they have the odds. And the rest of the time, they don't. It's just that simple.
Kelly was aware that there is one type of favorable bet available to everyone; the stock market.
By keeping the mind in the present, unless you deliberately want to contemplate the past or future, it's possible to firmly face life without fear. Then, no thoughts of past failures or future problems will exist in the mind, and a truly positive mental state will result-fudoshin, the "immovable mind".
Bet you ten bucks we make it." What are the odds? she thought, and realized with sudden, blinding clarity that she wouldn't take the other side of that bet, that only a loser would bet against them. This is really it, she thought, amazed. This is really forever. I believe in this. "Min?" he said, and she kissed him, putting all her heart into it. "No bet," she said against his mouth. "Your odds are too good." "Our odds are too good
It's not given to human beings to have such talent that they can just know everything about everything all the time. But it is given to human beings who work hard at it - who look and sift the world for a mispriced bet - that they can occasionally find one. And the wise ones bet heavily when the world offers them that opportunity. They bet big when they have the odds. And the rest of the time they don't. It's just that simple.
I've been heavily, heavily tuned into the DJ Khaled album, 'Major Key,' which has some major, major plays on it, up and down the line.
That is the trouble with many inventors; they lack patience. They lack the willingness to work a thing out slowly and clearly and sharply in their mind, so that they can actually "feel it work." They want to try their first idea right off; and the result is they use up lots of money and lots of good material, only to find eventually that they are working in the wrong direction. We all make mistakes, and it is better to make them before we begin.
Write and people will come to read. Write and people will heed to your words and share them with others. Not all may relate, but wait, and those that were meant to see it eventually will find it, for truth waits to be found. It searches for no one.
Being goal directed is not enough to conquer your enemy. To achieve your goal you need to know and be able to utilize all the resources available to you. This includes the knowledge of all those available to you as well as using the physical resources and those who control them.
In raising children, we need to continuously keep in mind how we can best create the most favorable environment for their imitative behavior. Everything done in the past regarding imitation must become more and more conscious and more and more consciously connected with the future.
What is the manager's job? It is to direct the resources and the efforts of the business toward opportunities for economically significant results. This sounds trite - and it is. But every analysis of actual allocation of resources and efforts in business that I have ever seen or made showed clearly that the bulk of time, work, attention, and money first goes to problems rather than to opportunities, and, secondly, to areas where even extraordinarily successful performance will have minimal impact on results.
Anytime you make a bet with the best of it, where the odds are in your favor, you have earned something on that bet, whether you actually win or lose the bet. By the same token when you make a bet with the worst of it, where the odds are not in your favor, you have lost something, whether you actually win or lose the bet.
The citizens of Love Canal provided an example of how a blue-collar community with few resources can win against great odds (a multi-billion-dollar international corporation and an unresponsive government), using the power of the people in our democratic system.
It can be a huge help to parents considering the adoption of an older child, when college is just a few years away, to know that there are post-adoption resources and specific financial assistance opportunities available to them.
Many, if not most, career opportunities come to you through people you know. So the more people you know, the more opportunities you have. Improving your social network is a great example of a system for moving from lower odds to better odds without having a specific goal.
A willingness to practice patience. Patience in communication is that certain ingredient of conduct we hope others will exhibit toward us when we fail to measure up. Our own patience is developed when we are patient with others.
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