If 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 MungerOver the very long term, history shows that the chances of any business surviving in a manner agreeable to a company's owners are slim at best.
Charlie MungerIf all you succeed in doing in life is getting rich by buying little pieces of paper, it's a failed life. Life is more than being shrewd in wealth accumulation.
Charlie MungerIf it is wisdom you're after, you're going to spend a lot of time on your ass reading.
Charlie MungerOf course you want to drive that out of yourself because you want to be wise, not foolish. You also have to allow for the self-serving bias of everybody else because most people are not going to remove it all that successfully, the human condition being what it is. If you don't allow for self-serving bias in your conduct, again you're a fool.
Charlie Munger