limited partnerships that do some combination of the following: unleveraged investment in high-tech corporations in their infancy; leveraged investme… - Charlie Munger

Acquire worldly wisdom and adjust your behavior accordingly. If your new behavior gives you a little temporary unpopularity with your peer group... then to hell with them.

How do these super-smart people with all these degrees and higher mathematics end up doing these dumb things? I think it's explainable by the old proverb that to the man with a hammer every problem looks pretty much like a nail. They've learned these techniques and they just twist the problem so it fits the solution — which is not the way to do it.

If you rise in life, you have to behave a certain way. You can go to a strip club if you're a beer-swilling sand shoveler, but if you're the bishop of Boston, you shouldn't go.