Here's a big list of incredible Charlie Munger quotes from Buffett's annual letter.
"The world is full of foolish gamblers, and they will not do as well as the patient investor."
"If you don't see the world the way it is, it's like judging something through a distorted lens."
"All I want to know is where I'm going to die, so I'll never go there. And a related thought: Early on, write your desired obituary – and then behave accordingly."
"If you don't care whether you are rational or not, you won't work on it. Then you will stay irrational and get lousy results."
"Patience can be learned. Having a long attention span and the ability to concentrate on one thing for a long time is a huge advantage."
If you give someone a chance to do something that is a big swing/has low probability of success, then you need to be 100% ready to have them hate your guts with a passion....
This is counter to what we want to believe.
We want to believe that people will respect us for taking a chance on them.
For seeing an opportunity. For doing something unique.
But the world doesn't usually reward that, it punishes.
People don't like to fail.
It's deeply uncomfortable.
So they craft narratives about why mistakes were made....
But not by them.
Often you become the target of that.
It would have worked if only you hadn't "X, Y, Z".