Bigs Quote by Charlie Munger
“Look at those hedge funds - you think they can wait? They don't know how to wait! I have sat for years at a time with $10 to $12 million in treasuries or municipals, just waiting, waiting...As Jesse Livermore said, 'The big money is not in the buying and selling...but in the waiting.'”
About This Quote
Source Interview: CNBC, 2018, Charlie Munger discussing market timing
Patience in investing yields greater returns than frequent trading; waiting for the right opportunity is more valuable than constant buying and selling.
In simple terms: Waiting is more profitable than trading.
Key Takeaway
Focus on long‑term positions, not short‑term trades.
Themes
patience
investment strategy
market timing
discipline
risk management
Mood
thoughtful
analytical
Type
advice
philosophical
When to use this quote
- retirement planning
- portfolio rebalancing
- large‑cap bond investing
- long‑term wealth building
Key Concepts
value investing
behavioral finance
opportunity cost
capital allocation
Questions to Reflect On
- How can you balance patience with the need to act when opportunities arise?
- What signals indicate it’s time to move from waiting to investing?
A Different Perspective
Waiting can lead to missed opportunities if market conditions change rapidly.
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