2. Constantly cultivate your ideal personality (investment personality), uncompromising patience, self-discipline and self-control in life-no matter how much pressure you bear, you will not shake and change your principles.
3. All human beings' excessive pursuit of geometric progression eventually ended tragically on the limited earth.
4. Think backwards, always think backwards.
If you have 40 wives and concubines, you will never know every woman thoroughly-Munger quoted Bill Ross.
6. We spent a lot of time thinking. My schedule was not satisfactory, so we sat down and continued to think. In a sense, we are more like scholars than businessmen. My system always sits down and thinks quietly for hours. I don't mind that nothing happened for a long time.
7. If you can understand both the power of compound interest and the difficulty of obtaining compound interest, it is equivalent to grasping the essence of understanding many things.
8. The word caution seems to be a derogatory term in daily life. To say that a person is cautious seems to be lacking in courage, but in terms of investment, this is actually a very good advantage, because investment is not based on how fast you run in the short term, but on whether you can maintain it for a long time, and the rest is king.
9. Even if you can do something and it won't be punished by law or cause losses, you shouldn't do it.