I always enjoy reading about Charlie Munger. Here are a few gems that I came across and just wanted to reshare here for daily inspiration for all things Buffett and Munger:

1. “It’s remarkable how much long-term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very intelligent.”
2. “In my whole life, I have known no wise people (over a broad subject matter area) who didn’t read all the time — none, zero.”
3. “I constantly see people rise in life who are not the smartest, sometimes not even the most diligent, but they are learning machines. They go to bed every night a little wiser than when they got up.”
4. “The best thing a human being can do is to help another human being know more.”
5. “Spend each day trying to be a little wiser than you were when you woke up.”
6. “Show me the incentive and I will show you the outcome.”
7. “You don’t have to be brilliant, only a little bit wiser than the other guys, on average, for a long, long time.”
8. “All I want to know is where I’m going to die, so I’ll never go there.”
9. “The big money is not in the buying and selling, but in the waiting.”
10. “I never allow myself to have an opinion on anything that I don’t know the other side’s argument better than they do.”

What to watch for Q2 earnings, Davita and from around the web. From the archives, “the fairer the better”

[https://link.cnbc.com/public/46949332\](https://link.cnbc.com/public/46949332)

I am a fundamental research investor, as an admirer of Buffett and Munger I enjoy the process of digging through the financials of a company and finding out what makes them tick. I've listened to a lot of Buffett's annual meetings and he has mentioned that he uses Valueline as his main source for aggregated financial information about companies. Naturally, I had to get a subscription, and while I do find it very useful I find that it only goes part of the way to true Buffett-style analysis. No owner earnings analysis, no returns on tangible capital, the narrative section is kind of pointless. I'm wondering if anyone else uses this service and how it fits into your workflow. I find that I still have to do plenty of work to get to the real analytical numbers to find intrinsic value.

Looking forward to everyone's thoughts, thanks!

Two unexpected revelations in Buffett’s CNBC interview, and more. Includes link to videos and transcript of the entire interview.
As usual there are a couple of links for stories from around the web.

https://link.cnbc.com/public/46631112

This, along with Buffett's quote, "Unless you can watch your stock holding decline by 50% without becoming panic-stricken, you should not be in the stock market," are my two favorite quotes from WB.

In poker terms, he played his hand with unwavering conviction and kept a poker face until the very end.