I think track records are very important. If you start early trying to have a perfect one in some simple thing like honesty, you're well on your way … - Charlie Munger

There’s only one right way to do it: You have to get the main doctrines together and use them as a checklist. And, to repeat for emphasis, you have to pay special attention to combinatorial effects that create lollapalooza consequences.

Like Warren, I had a considerable passion to get rich, not because I wanted Ferraris—I wanted the independence. I desperately wanted it.

So you can get very remarkable investment results if you think more like a winning pari mutuel player. Just think of it as a heavy-odds against game full of bullshit and craziness with an occasional mispriced something or other. And you’re probably not going to be smart enough to find thousands in a lifetime. And when you get a few, you really load up. It’s just that simple.