David Senra on LinkedIn: Charlie Munger’s formula: “There is an old two-part rule that often…

"Take a simple idea and take it seriously.” -Charlie Munger

14 more ideas from Buffett and Munger I don’t want to forget: 1. The one thing that has surprised me all my life is how many people with high IQs do massively stupid things. 2. Berkshire was a small business at one time. It just takes time. It is the nature of compound interest. You can't build it in one day, or one week. 3. Unfortunately, Bert... See more

What is elementary, worldly wisdom? Well, the first rule is that you can't really know  anything if you just remember isolated facts and try and bang 'em back. If the facts  don't hang together on a latticework of theory, you don't have them in a usable form.