Some classic investing wisdom from Charlie Munger

It’s hard to believe that Charlie Munger died two years ago but with the passing of time, his advice remains some of the best stuff ever said about investing.Here is a great one:”It’s amazing how intelligent it is to spend some time just sitting. A lot of people are way too active.”Along the same lines:”If we’ve got one thing we can do more of, we’re not interested in anything that’s not better than that. That simplifies life a great deal.”The barrage of information in today’s world and the low cost of trading lead to one of the great investing vices: Over-trading.And if you want to go back 100 years before Munger, here is the advice from Larry Livermore:“It was never my thinking that made the big money for me. It was my sitting.”
“Got that? My sitting tight!”Find something you have great conviction in and at a good price. Buy it and wait.
This article was written by Adam Button at investinglive.com.

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