Charlie munger
Charlie Munger

Charlie munger

Charlie munger

If you stop to think about it, a pari-mutual system is a market. Everybody goes there and bets and the odds chance on what’s bet. That’s what happens in the stock market.

Learn Continuously:  Read, Read, Read

 “You don’t have to pee on an electric fence to learn not to do it” said Munger on one occasion.  At the most recent Berkshire meeting he quipped: “Learning from other people’s mistakes is much more pleasant.  The best way to do this is simple:  When in doubt, read so you can learn vicariously.  Charlie loves to talk about the importance of reading:

 

There are no extraordinary men, goes the adage, just extraordinary circumstances that ordinary men are forced to deal with.

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