The Economic Times News

Quote of the Day by Charlie Munger, Warren Buffet's longtime friend: 'The big money is not in the buying and selling, but...'

Charlie Munger, a longtime friend of Warren Buffet, was best known for his advice on finance, investments and success. Trained as a meteorologist during World War II and as a lawyer at Harvard before devoting himself to business, Charlie Munger in one his quotes said that you make your money by the waiting. It means that even if you have a good asset but if you lack patience, you might end up losing the money.