Author: Charlie Munger
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Egypt Revolution Day Wishes
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It's not a competency if you don't know the edge of it.
The idea of excessive diversification is madness. Wide diversification, which necessarily includes investment in mediocre businesses, only guarantees ordinary results.
If you get into the mental habit of relating what you're reading to the basic structure of the underlying ideas being demonstrated, you gradually accumulate some wisdom.
If you always tell people why, they'll understand it better, they'll consider it more important, and they'll be more likely to comply.
I did not succeed in life by intelligence. I succeeded because I have a long attention span.
Develop into a lifelong self-learner through voracious reading; cultivate curiosity and strive to become a little wiser every day.
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