by winston » Fri Oct 04, 2024 5:18 pm
Charlie Munger's Three-Word Rule That Guided Warren Buffett Could Help You TooGO FOR GREAT.
1. Charlie looks at everything through the lens of history. Human nature does not change. The same behaviors repeat forever.
2. Problems from time to time should be expected. This is an inescapable part of life.
3. Wise people do not whine about problems. They prevent them. "Wisdom is prevention."
4. Great businesses are rare. Great people are rare, too. Great people and great businesses produce fewer problems.
Source: Benzinga
https://finance.yahoo.com/news/charlie- ... 15373.html
It's all about "how much you made when you were right" & "how little you lost when you were wrong"