Money and Finance
A quote from Jason Zweig's article, "A Fireside Chat With Charlie Munger," worth a post of its own:
- Links
A Dozen Things Learned from Charlie Munger about Making Rational Decisions (LINK) A Dozen Things Learned from Charlie Munger about Mental Models and Worldly Wisdom (LINK) Related book: Charlie Munger: The Complete InvestorJason Zweig: 5 Things...
- Charlie Munger On Cnnmoney
Links to videos: Charlie Munger: 'I'm not the only wise ass in the world' Munger on politicians: 'They're all flawed' Charlie Munger defends Clayton Homes Charlie Munger on what's going on in Baltimore ...
- The Combination Of Being Both Conservative And Aggressive...
Quote from Mohnish Pabrai in his ValueConferences session on investment checklists last year: "...you have to understand that a great investor is not going to just be someone who’s super careful and super conservative. You have to have a conservative...
- Charlie Munger: Lessons From An Investing Giant - By Jason Zweig
One of the least appreciated virtues in investing is courage. Filings with the Securities and Exchange Commission in March and again this month show the extraordinary gumption of Charlie Munger, Warren Buffett's business partner and vice chairman...
- Charlie Munger Quote
"The deep structure of the human mind requires that the way to full-scope competency of virtually any kind is learn it all to fluency, like it or not." -Charlie Munger ...
Money and Finance
Charlie Munger on the balance between competency and gumption...
A quote from Jason Zweig's article, "A Fireside Chat With Charlie Munger," worth a post of its own:
.....You have to strike the right balance between competency or knowledge on the one hand and gumption on the other. Too much competency and no gumption is no good. And if you don’t know your circle of competence, then too much gumption will get you killed. But the more you know the limits to your knowledge, the more valuable gumption is.
Jason Zweig also put it this way in his other article on the meeting, "The Secrets of Berkshire’s Success: An Interview with Charlie Munger":
Successful investing, Mr. Munger told me, requires “this crazy combination of gumption and patience, and then being ready to pounce when the opportunity presents itself, because in this world opportunities just don’t last very long.”
- Links
A Dozen Things Learned from Charlie Munger about Making Rational Decisions (LINK) A Dozen Things Learned from Charlie Munger about Mental Models and Worldly Wisdom (LINK) Related book: Charlie Munger: The Complete InvestorJason Zweig: 5 Things...
- Charlie Munger On Cnnmoney
Links to videos: Charlie Munger: 'I'm not the only wise ass in the world' Munger on politicians: 'They're all flawed' Charlie Munger defends Clayton Homes Charlie Munger on what's going on in Baltimore ...
- The Combination Of Being Both Conservative And Aggressive...
Quote from Mohnish Pabrai in his ValueConferences session on investment checklists last year: "...you have to understand that a great investor is not going to just be someone who’s super careful and super conservative. You have to have a conservative...
- Charlie Munger: Lessons From An Investing Giant - By Jason Zweig
One of the least appreciated virtues in investing is courage. Filings with the Securities and Exchange Commission in March and again this month show the extraordinary gumption of Charlie Munger, Warren Buffett's business partner and vice chairman...
- Charlie Munger Quote
"The deep structure of the human mind requires that the way to full-scope competency of virtually any kind is learn it all to fluency, like it or not." -Charlie Munger ...