Charlie counts preparation, patience, discipline, and objectivity among his most fundamental guiding principles. He will not deviate from these princ… - Charlie Munger

includes such things as the current and prospective regulatory climate; the state of labor, supplier, and customer relations; the potential impact of changes in technology; competitive strengths and vulnerabilities; pricing power; scalability; environmental issues; and, notably, the presence of hidden exposures.

Neither Warren nor I have ever used any fancy math in business — and neither did Ben Graham who taught Warren. Everything I have ever done in business could be done with the simplest algebra and geometry and addition and multiplication and so forth. I never used calculus for any practical work in my whole damn life — and I was a perfect whiz at it when they taught it to me.

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 people you enjoy.