Quote for the Week
Warren and I have skills that could easily be taught to other people. One skill is knowing the edge of your own competency. It’s not a competency if you don’t know the edge of it. And Warren and I are better at tuning out the standard stupidities. We’ve left a lot of more talented and diligent people in the dust, just by working hard at eliminating standard error. — Charlie Munger (source)
From the Archives
Last Call
- The 10 Greatest US Investors and the Virtues That Made Them – CFA Institute
- When Narratives Take Over – Klement on Investing
- How Can Active Managers Improve Their Funds’ Performance? By Taking a Vacation – J. Ptak
- The Ages Of Finance: A Timeline Of Markets – Investor Amnesia
- Revenge of the Turds – Verdad
- Upside versus Downside Stocks – Finominal
- Todd Combs: Meeting Munger, Buffett and Joining Berkshire (podcast) – I Am Home
- How to Win at Cards and Life, According to Poker’s Autistic Superstar – Washington Post
- Why is It So Hard to Pull Off a Lunar Landing? – Nature