If you don’t get this elementary, but mildly unnatural, mathematics of elementary probability into your repertoire, then you go through a long life l… - Charlie Munger

Good ideas are rare — when the odds are greatly in your favor, bet (allocate) heavily.

If you have competence, you pretty much know its boundaries already. To ask the question [of whether you are past the boundary] is to answer it

Some of the worst dysfunctions in businesses come from the fact that they balkanize reality into little individual departments, with territoriality and turf protection and so forth. So if you want to be a good thinker, you must develop a mind that can jump the jurisdictional boundaries. You don’t have to know it all. Just take in the best big ideas from all these disciplines. And it’s not that hard to do.