I find it quite useful to think of a (partly) free market economy as sort of the equivalent of an ecosystem. Just as animals flourish in niches, peop… - Charlie Munger

On the other hand, in copying Jack Welch, I am trying to teach you something. When you don’t know and you don’t have any special competence, don’t be afraid to say so.

It is not usually the conscious malfeasance of your narrow professional adviser that does you in. Instead, your troubles come from his subconscious bias. His cognition will often be impaired, for your purposes, by financial incentives different from yours. And he will also suffer from the psychological defect caught by the proverb “To a man with a hammer, every problem looks like a nail.

I met the towering intellectuals in books, not in the classroom, which is natural. I can't remember when I first read Ben Franklin. I had Thomas Jefferson over my bed at seven or eight.