So in the game of life, get the needed models into your head and think it through forward and backward. What works in bridge will work in life. - Charlie Munger

My second prescription for misery is to learn everything you possibly can from your own experience, minimizing what you learn vicariously from the good and bad experiences of others, living and dead. This prescription is a sure-shot producer of misery and second-rate achievement.

reality evoked by the Shavian character who said, “In the last analysis, every profession is a conspiracy against the laity.

includes such things as the current and prospective regulatory climate; the state of labor, supplier, and customer relations; the potential impact of changes in technology; competitive strengths and vulnerabilities; pricing power; scalability; environmental issues; and, notably, the presence of hidden exposures.