Saved by Marcel Mairhofer
Two Types of Knowledge: The Max Planck/Chauffeur Test
It's not given to human beings to have such talent that they can just know everything about everything all the time. But it is given to human beings who work hard at it—who look and sift the world for a mispriced be—that they can occasionally find one. And the wise ones bet heavily when the world offers them that opportunity. ... See more
Charlie Munger • A Lesson On Elementary, Worldly Wisdom As It Relates To Investment Management & Business – Charles Munger, USC Business School, 1994
Peter Kaufman: How many people do you know that are constant at what they do? I know a couple. Warren Buffett and Charlie Munger. Everybody wants to be rich like Warren Buffett, Charlie Munger. I’m telling you how they got rich. They were constant. They were not intermittent.
Thomas Waschenfelder • The Most Powerful Force You Can Harness: Slow, Incremental, Constant Progress - Ideas of wealth cre — Wealest
The economist, philosopher, and writer Henry Hazlitt sums up the dilemma: In the modern world knowledge has been growing so fast and so enormously, in almost every field, that the probabilities are immensely against anybody, no matter how innately clever, being able to make a contribution in any one field unless he devotes all his time to it for ye... See more
Shane Parrish • The Generalized Specialist: How Shakespeare, Da Vinci, and Kepler Excelled
It’s crucial for us to understand as many mental models as possible. As the adage goes, a little knowledge can be dangerous and creates more problems than total ignorance. No single model is universally applicable – we find exceptions for nearly everything. Even hardcore physics has not been totally solved.
Farnam Street • All Models Are Wrong
