Even if you assume that the whole economy would work better had we never had double taxation, having the envy and resentment of the richest paying low or no taxes screams of injustice. You have to have a fair system.

Early Charlie Munger is a horrible career model for the young, because not enough was delivered to civilization in return for what was wrested from capitalism. And other similar career models are even worse.

In my life there are not that many questions I can't properly deal with using my $40 adding machine and dog-eared compound interest table.

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

It's natural that you'd have more brains going into money management. There are so many huge incomes in money management and investment banking - it's like ants to sugar. There are huge incentives for a man to take up money management as opposed to, say, physics, and it's a lot easier.

Almost all good businesses engage in 'pain today, gain tomorrow' activities.

Avoid working directly under somebody you don't admire and don't want to be like.