Sunday, September 10, 2006

Charlie Munger in Damn Right! 5


“The game of investing is one of making better predictions about the future than other people. How are you going to do that? One way is to limit your tries to areas of competence. If you try to predict the future of everything, you attempt too much. You’re going to fail through lack of specialization.”

“We’re willing to forego short-term results for long-term gains.”

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