Understanding how to be a good investor makes you a better business manager and vice versa.
Charlie Munger - Management - Investing - Understanding

We all are learning, modifying, or destroying ideas all the time. Rapid destruction of your ideas when the time is right is one of the most valuable qualities you can acquire. You must force yourself to consider arguments on the other side.
Charlie Munger - Learning - Ideas - Change

Forgetting your mistakes is a terrible error if you are trying to improve your cognition.
Charlie Munger - Learning - Mistakes - Improvement

If you took our top fifteen decisions out, we’d have a pretty average record. It wasn’t hyperactivity, but a hell of a lot of patience. You stuck to your principles and when opportunities came along, you pounced on them with vigor
Charlie Munger - Investing - Best - Decisions - Opportunity

We both (He and Warren Buffett) insist on a lot of time being available almost every day to just sit and think. That is very uncommon in American business. We read and think. So Warren and I do more reading and thinking and less doing than most people in business. We do that because we like that kind of a life.
Charlie Munger - Smart - Thinking - American - Business

You need to have a passionate interest in why things are happening. That cast of mind, kept over long periods, gradually improves your ability to focus on reality. If you don’t have the cast of mind, you’re destined for failure even if you have a high I.Q.
Charlie Munger - Learning - Interesting - Improvement - Passionate - Intelligent - Focus

You have to know accounting. It's the language of practical business life. It was a very useful thing to deliver to civilization. I've heard it came to civilization through Venice which of course was once the great commercial power in the Mediterranean. However, double entry bookkeeping was a hell of an invention.
Charlie Munger - Accounting - Business - Power

If you have competence, you pretty much know its boundaries already. To ask the question (of whether you are past the boundary) is to answer it.
Charlie Munger - Knowledge - Questions