Three rules for a career: 1) Don't sell anything you wouldn't buy yourself. 2) Don't work for anyone you don't respect and admire. 3) Work only with … - Charlie Munger

What I would say is the single most important thing, if you want to avoid all the stupid errors, is knowing where you're competent and where you aren't. And that's very hard to do because the human mind naturally tries to make you think you're way smarter than you are.

The idea that life is a series of adversities and each one is an opportunity to behave well instead of badly is a very, very good idea.

Which models are the most reliable? Well, obviously, the models that come from hard science and engineering are the most reliable models on this earth. And engineering quality control — at least the guts of it that matters to you and me and people who are not professional engineers — is very much based on the elementary mathematics of Fermat and Pascal: It costs so much, and you get so much less likelihood of it breaking if you spend this much. It’s all elementary high school mathematics.