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… - Charlie Munger

We have three baskets: in, out, and too tough. … We have to have a special insight, or we’ll put it in the “too tough” basket.

The school of life is always open, if you aren't learning more, you are falling further behind

tendencies, two of which are exceptionally prone to cause trouble: 1) incentive-caused bias, a natural cognitive drift toward the conclusion that what is good for the professional is good for the client and the wider civilization; and 2) man-with-a-hammer tendency, with the name taken from the proverb “To a man with only a hammer, every problem tends to look pretty much like a nail.