You're not going to get very far in life based on what you already know. You're going to advance in life by what you're going to learn after you leave here.
Charlie MungerYou'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.
Charlie MungerIf you have competence, you know the edge. It wouldnt be a competence if you didnt know where the boundaries lie. Asking whether youve passed the boundary is a question that almost answers itself.
Charlie MungerOur success has come from the lack of oversight we've provided, and our success will continue to be from a lack of oversight. But if you're going to provide minimal oversight, you have to buy carefully. It's a different model from GE's. GE's works - it's just very different from ours.
Charlie Munger