Forgetting your mistakes is a terrible error if you are trying to improve your cognition.

Once you start doing something bad, then it's easy to take the next step - and in the end, you're a moral sewer.

You've got to have models in your head and you've got to array you experience - both vicarious and direct - onto this latticework of mental models.

One could imagine a period like Japan13 years ago, however, in which indexing over time wouldn't work.

In business we often find that the winning system goes almost ridiculously far in maximizing and or minimizing one or a few variables - like the discount warehouses of Costco.

Intense interest in any subject is indispensable if you're really going to excel in it.

I'm a bull on Berkshire Hathaway. There may be some considerable waiting, but I think there are some good days ahead.