valueandprices
Charlie Munger

Three Rules for a Career by Charlie Munger

Since your academic structure by and large, doesn’t encourage minds jumping  jurisdictional boundaries, you’re at a disadvantage because, in that one sense, even  though academia’s very useful to you, you’ve been mistaught. So if our professors won’t give you an appropriate multidisciplinary approach –  if each wants to overuse his own models and under use the […]

valueandprices
Charlie Munger

Power of collective learning

Munger: Let us look at the field of investing. Before the stock market crash of 1929, there was no structure and logic for investing in stocks. Benjamin Graham’s two major works, Security Analysis and The Intelligent Investor created an intellectual framework for sound investment. His framework had two key ideas (1) Mr Market (2) Margin of Safety. Even today Buffett and I […]

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