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.
Charlie MungerIf only I had the influence with my wife and children that I have in some other quarters!
Charlie MungerYou don't have to be brilliant, only a little bit wiser than the other guys, on average, for a long, long, time.
Charlie MungerThe liabilities are always 100 percent good. It's the assets you have to worry about.
Charlie MungerOne of the first big bubbles, of course, was the huge and horrible South Sea Bubble in England. And the aftermath was interesting. Many of you probably don't remember what happened after the South Sea Bubble, which caused an enormous financial contraction, and a lot of pain. They banned publicly traded stock in England for decades.
Charlie Munger