Saved by Marcel Mairhofer
Two Types of Knowledge: The Max Planck/Chauffeur Test
Carved on the wall at University of Chicago is a quote from Lord Kelvin that says, “When you cannot measure, your knowledge is meager and unsatisfactory.” He’s not wrong, but the danger is assuming that if something can’t be measured it doesn’t matter. The opposite is true: Some of the most important forces in the world—particularly those regarding
... See moreMorgan Housel • Same as Ever: A Guide to What Never Changes
A Lesson On Elementary, Worldly Wisdom As It Relates To Investment Management & Business – Charles Munger, USC Business School, 1994
Charlie Mungerstrongfitlibrary.comDaniel Bakalarz added
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
Daniel Bakalarz and added
Charlie Munger summed up this approach to practical 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. You’ve got to have models in your head. And you’ve got to array you
... See moreRhiannon Beaubien • The Great Mental Models Volume 1: General Thinking Concepts
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
sari and added
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
Poor Charlie’s Almanack: The Essential Wit and Wisdom of Charles T. Munger
Charles T. Munger, Peter D. Kaufman, John Collison,
amazon.com
Mark Twain said a century ago, “It’s not what you don’t know that gets you into trouble, it’s what you know for sure that ain’t so.
Tom Kelley • Creative Confidence: Unleashing the Creative Potential Within Us All
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