“Opportunity cost is a huge filter in life. If you’ve got two suitors who are really eager to have you and one is way the hell better than the other, you do not have to spend much time with the other. And that’s the way we filter out buying opportunities.”
CHARLIE MUNGER
31
536 reads
CURATED FROM
IDEAS CURATED BY
The cost of something is what you will give up to get it. This is opportunity cost.
“
The idea is part of this collection:
Learn more about moneyandinvestments with this collection
The impact of opportunity cost on personal and professional life
Evaluating the benefits and drawbacks of different choices
Understanding the concept of opportunity cost
Related collections
Similar ideas to CHARLIE MUNGER
The To-Done List and the To-Don’t List
Time commitment to get started: Medium
Type: Abstract
Perfect for people who: Spend too much time worrying about how much didn’t get done yesterday/have a lot of bad habits that prevent productivity.
What it does:
Opportunity Cost: You Can Do Anything but Not Everything
When mulling over multiple choices, the quality of any option cannot be assessed in isolation from its alternatives. The price you pay (or the sacrifice you make, or the benefits you give up) for doing what you’ve chosen to do instead of doing something else is the opportunity cost.
Stability Or Freedom
Exposing yourself to new challenges, and audacious pursuits that push your limits and provides new learning is a much better way to live and grow than to work in a static career which is on auto-pilot and of which you have little control of.
While professional jobs are great as stepping...
Read & Learn
20x Faster
without
deepstash
with
deepstash
with
deepstash
Personalized microlearning
—
100+ Learning Journeys
—
Access to 200,000+ ideas
—
Access to the mobile app
—
Unlimited idea saving
—
—
Unlimited history
—
—
Unlimited listening to ideas
—
—
Downloading & offline access
—
—
Supercharge your mind with one idea per day
Enter your email and spend 1 minute every day to learn something new.
I agree to receive email updates